SiTime (NASDAQ:SITM) Insider Piyush Sevalia Sells 1,249 Shares

SiTime Corporation (NASDAQ:SITM) insider Piyush Sevalia sold 1,249 shares of SiTime stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $375.00, for a total value of $468,375.00. Following the transaction, the insider owned 87,916 shares of the company’s stock, valued at $32,968,500. The trade was a 1.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

SiTime Stock Down 2.2%

Shares of NASDAQ SITM opened at $327.20 on Friday. The business’s 50 day moving average price is $374.88 and its two-hundred day moving average price is $335.35. The company has a market cap of $8.61 billion, a PE ratio of -179.78 and a beta of 2.53. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $446.95.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The company had revenue of $113.29 million during the quarter, compared to analysts’ expectations of $101.91 million. During the same period last year, the firm posted $0.48 earnings per share. The business’s revenue was up 66.3% on a year-over-year basis. As a group, research analysts anticipate that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SITM. Raymond James Financial reaffirmed an “outperform” rating on shares of SiTime in a research report on Tuesday, December 2nd. Barclays set a $400.00 target price on shares of SiTime in a research note on Thursday, February 5th. Stifel Nicolaus set a $450.00 target price on shares of SiTime in a report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research note on Thursday, January 22nd. Finally, Needham & Company LLC increased their price target on shares of SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, SiTime presently has an average rating of “Moderate Buy” and an average target price of $409.38.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITM. Rakuten Securities Inc. lifted its holdings in shares of SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after buying an additional 49 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of SiTime by 190.3% in the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Optiver Holding B.V. increased its position in SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after acquiring an additional 32 shares during the period. Larson Financial Group LLC increased its position in SiTime by 3,200.0% during the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after acquiring an additional 96 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in SiTime in the 4th quarter worth about $33,000. 84.31% of the stock is owned by institutional investors and hedge funds.

About SiTime

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.