Insider Selling: SiTime (NASDAQ:SITM) EVP Sells 901 Shares of Stock

Key Points

• SiTime's EVP Elizabeth Howe sold 901 shares of the company's stock at an average price of $319.00, reducing her stake to 64,169 shares.
• The company reported an earnings per share (EPS) of $0.47 for the last quarter, exceeding analysts' expectations of $0.29.
• Analysts have a consensus rating of "Moderate Buy" for SiTime, with average target prices ranging from $220.00 to $320.00.

SiTime Corporation (NASDAQ:SITM - Get Free Report) EVP Elizabeth Howe sold 901 shares of the company's stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $319.00, for a total value of $287,419.00. Following the transaction, the executive vice president directly owned 64,169 shares in the company, valued at approximately $20,469,911. This represents a 1.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

SiTime Trading Down 0.5%

Shares of NASDAQ SITM traded down $1.60 during mid-day trading on Friday, reaching $292.76. The company had a trading volume of 250,030 shares, compared to its average volume of 336,645. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of -84.13 and a beta of 2.18. SiTime Corporation has a 52 week low of $105.40 and a 52 week high of $319.00. The business's 50-day moving average is $235.54 and its 200-day moving average is $200.84.

SiTime (NASDAQ:SITM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.18. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The business had revenue of $69.49 million for the quarter, compared to analyst estimates of $64.66 million. During the same period last year, the company posted $0.12 earnings per share. The company's quarterly revenue was up 58.3% compared to the same quarter last year. As a group, equities research analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on SITM. Barclays increased their target price on shares of SiTime from $180.00 to $220.00 and gave the company an "underweight" rating in a research report on Thursday, August 7th. UBS Group assumed coverage on shares of SiTime in a research note on Thursday, August 14th. They issued a "buy" rating and a $260.00 target price for the company. Raymond James Financial reissued an "outperform" rating and issued a $270.00 target price (up from $250.00) on shares of SiTime in a research report on Friday, August 29th. Finally, Stifel Nicolaus lifted their price target on SiTime from $230.00 to $320.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $258.33.

Institutional Trading of SiTime

Hedge funds and other institutional investors have recently modified their holdings of the stock. Game Plan Financial Advisors LLC acquired a new stake in shares of SiTime during the 2nd quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in SiTime in the first quarter worth approximately $32,000. Advisors Asset Management Inc. raised its position in SiTime by 33.6% in the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company's stock valued at $54,000 after purchasing an additional 88 shares during the period. State of Wyoming acquired a new position in shares of SiTime in the 2nd quarter valued at $58,000. Finally, CWM LLC grew its holdings in shares of SiTime by 69.0% during the 1st quarter. CWM LLC now owns 453 shares of the company's stock worth $69,000 after purchasing an additional 185 shares during the period. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Company Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.

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