SiTime (NASDAQ:SITM) Director Raman Chitkara Sells 2,000 Shares

SiTime Corporation (NASDAQ:SITM) Director Raman Chitkara sold 2,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $727.38, for a total value of $1,454,760.00. Following the completion of the sale, the director directly owned 19,898 shares of the company’s stock, valued at approximately $14,473,407.24. This trade represents a 9.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SiTime Stock Up 1.7%

Shares of SiTime stock traded up $12.57 during midday trading on Monday, hitting $742.46. The company’s stock had a trading volume of 582,215 shares, compared to its average volume of 573,592. The firm has a market capitalization of $19.60 billion, a P/E ratio of -735.11 and a beta of 2.94. The stock has a 50-day simple moving average of $625.95 and a 200-day simple moving average of $455.98. SiTime Corporation has a 1-year low of $186.49 and a 1-year high of $901.81.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.14 by $0.30. The business had revenue of $113.57 million during the quarter, compared to analysts’ expectations of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.SiTime’s revenue was up 88.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. As a group, sell-side analysts predict that SiTime Corporation will post 3.23 earnings per share for the current year.

Institutional Trading of SiTime

A number of institutional investors have recently bought and sold shares of SITM. Norges Bank acquired a new stake in SiTime during the fourth quarter valued at $83,977,000. Whale Rock Capital Management LLC boosted its position in SiTime by 45.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock valued at $246,717,000 after purchasing an additional 218,038 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in SiTime by 61.0% during 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 purchasing an additional 213,242 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in SiTime during the fourth quarter valued at $59,452,000. Finally, Wellington Management Group LLP raised its holdings in SiTime by 36.8% during the third quarter. Wellington Management Group LLP now owns 537,741 shares of the company’s stock valued at $162,027,000 after buying an additional 144,671 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Roth Mkm reaffirmed a “buy” rating and issued a $900.00 target price on shares of SiTime in a research report on Thursday, May 7th. UBS Group raised their target price on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. Zacks Research raised SiTime from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $800.00 price objective on shares of SiTime in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.