SiTime (NASDAQ:SITM) Director Sells $903,000.00 in Stock

SiTime Corporation (NASDAQ:SITM) Director Christine Heckart sold 1,290 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the sale, the director directly owned 790 shares of the company’s stock, valued at approximately $553,000. The trade was a 62.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

SiTime Stock Performance

Shares of NASDAQ SITM opened at $625.68 on Friday. The stock has a market cap of $16.52 billion, a price-to-earnings ratio of -619.49 and a beta of 2.94. The business has a 50 day simple moving average of $582.71 and a 200 day simple moving average of $436.70. SiTime Corporation has a 52 week low of $186.49 and a 52 week high of $901.81.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. lifted its holdings in shares of SiTime by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 363,953 shares of the company’s stock worth $128,545,000 after buying an additional 13,577 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of SiTime by 145.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 12,215 shares of the company’s stock worth $3,681,000 after buying an additional 7,247 shares during the last quarter. Cibc World Market Inc. acquired a new position in shares of SiTime during the third quarter worth approximately $2,259,000. Royce & Associates LP lifted its holdings in shares of SiTime by 95.0% during the third quarter. Royce & Associates LP now owns 54,476 shares of the company’s stock worth $16,414,000 after buying an additional 26,538 shares during the last quarter. Finally, Portolan Capital Management LLC acquired a new position in shares of SiTime during the third quarter worth approximately $4,671,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SITM has been the subject of several analyst reports. UBS Group boosted their target price on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. The Goldman Sachs Group restated a “buy” rating and issued a $800.00 target price on shares of SiTime in a report on Thursday, May 7th. Barclays upgraded SiTime from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $400.00 to $850.00 in a report on Thursday, May 7th. Needham & Company LLC boosted their target price on SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Stifel Nicolaus boosted their target price on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $661.88.

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.