Piyush Sevalia Sells 566 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) insider Piyush Sevalia sold 566 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $413.08, for a total value of $233,803.28. Following the completion of the sale, the insider directly owned 93,489 shares in the company, valued at approximately $38,618,436.12. The trade was a 0.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

SiTime Trading Down 3.4%

Shares of NASDAQ SITM traded down $14.15 during trading on Thursday, reaching $396.57. The company had a trading volume of 271,034 shares, compared to its average volume of 336,562. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $446.95. The stock has a market capitalization of $10.43 billion, a PE ratio of -217.90 and a beta of 2.51. The stock has a 50-day moving average price of $372.04 and a two-hundred day moving average price of $309.40.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. The company had revenue of $113.29 million during the quarter, compared to the consensus estimate of $101.91 million. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The company’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 EPS. On average, sell-side analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Stifel Nicolaus set a $450.00 price objective on SiTime in a research note on Thursday, February 5th. The Goldman Sachs Group assumed coverage on shares of SiTime in a report on Monday, December 15th. They set a “buy” rating and a $420.00 target price on the stock. UBS Group raised their price target on shares of SiTime from $430.00 to $485.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Needham & Company LLC boosted their price objective on shares of SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of SiTime in a research note on Tuesday, December 2nd. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $409.38.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SITM. American Century Companies Inc. bought a new position in SiTime in the 2nd quarter valued at about $64,873,000. Norges Bank acquired a new stake in shares of SiTime in the 4th quarter worth approximately $83,977,000. Whale Rock Capital Management LLC boosted its holdings in shares of SiTime by 45.4% in the fourth quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock valued at $246,717,000 after acquiring an additional 218,038 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of SiTime by 61.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 562,892 shares of the company’s stock valued at $198,808,000 after acquiring an additional 213,242 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of SiTime during the fourth quarter valued at approximately $59,452,000. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Company Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.