SiTime (NASDAQ:SITM) Director Sells $1,291,290.00 in Stock

SiTime Corporation (NASDAQ:SITM) Director Akira Takata sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total value of $1,291,290.00. Following the completion of the sale, the director directly owned 12,234 shares of the company’s stock, valued at approximately $10,531,761.24. This represents a 10.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

SiTime Trading Down 1.8%

Shares of SITM stock traded down $15.10 during trading hours on Thursday, reaching $820.21. 524,031 shares of the company’s stock were exchanged, compared to its average volume of 470,396. SiTime Corporation has a 1 year low of $186.49 and a 1 year high of $901.81. The stock has a market cap of $21.65 billion, a PE ratio of -812.09 and a beta of 2.91. The stock’s fifty day moving average price is $466.05 and its two-hundred day moving average price is $390.70.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. The company had revenue of $113.57 million during the quarter, compared to analysts’ expectations of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. SiTime’s revenue for the quarter was up 88.3% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS. On average, equities analysts expect that SiTime Corporation will post 1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On SiTime

Several hedge funds have recently added to or reduced their stakes in the business. Rakuten Securities Inc. raised its stake in shares of SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 49 shares during the last quarter. Hantz Financial Services Inc. boosted 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 worth $27,000 after buying an additional 59 shares during the last quarter. Optiver Holding B.V. grew its holdings 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. Parallel Advisors LLC grew its holdings in SiTime by 26.2% during the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after acquiring an additional 16 shares during the period. Finally, Larson Financial Group LLC raised 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 valued at $30,000 after acquiring an additional 96 shares in the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SITM shares. The Goldman Sachs Group reissued a “buy” rating and issued a $800.00 target price on shares of SiTime in a research report on Thursday, May 7th. Needham & Company LLC boosted their price target on SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. Roth Mkm reaffirmed a “buy” rating and set a $900.00 target price on shares of SiTime in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $661.88.

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.