Lionel Bonnot Sells 781 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM - Get Free Report) insider Lionel Bonnot sold 781 shares of SiTime stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $117.08, for a total transaction of $91,439.48. Following the sale, the insider now directly owns 98,299 shares in the company, valued at $11,508,846.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

SiTime Stock Up 0.7 %

Shares of SITM stock traded up $0.86 during trading hours on Monday, hitting $124.01. 184,344 shares of the company's stock traded hands, compared to its average volume of 213,959. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $141.99. The stock has a market cap of $2.84 billion, a PE ratio of -30.03 and a beta of 1.78. The stock's 50 day simple moving average is $89.28 and its 200 day simple moving average is $104.44.

SiTime (NASDAQ:SITM - Get Free Report) last announced its earnings results on Tuesday, February 13th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.01). SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. The company had revenue of $42.40 million for the quarter, compared to analyst estimates of $41.65 million. As a group, equities research analysts expect that SiTime Co. will post -2.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on SITM shares. Barclays boosted their target price on shares of SiTime from $110.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 16th. Needham & Company LLC upgraded SiTime from a "hold" rating to a "buy" rating and set a $130.00 price objective on the stock in a research report on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, SiTime currently has an average rating of "Moderate Buy" and an average price target of $140.00.

Institutional Trading of SiTime

Several institutional investors have recently added to or reduced their stakes in the stock. Pineridge Advisors LLC acquired a new position in shares of SiTime in the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC lifted its holdings in SiTime by 78.2% in the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company's stock valued at $41,000 after buying an additional 147 shares during the period. Nemes Rush Group LLC boosted its position in SiTime by 26.9% during the fourth quarter. Nemes Rush Group LLC now owns 542 shares of the company's stock valued at $66,000 after acquiring an additional 115 shares during the last quarter. Amica Retiree Medical Trust boosted its position in SiTime by 479.5% during the third quarter. Amica Retiree Medical Trust now owns 649 shares of the company's stock valued at $74,000 after acquiring an additional 537 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in SiTime by 35.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company's stock valued at $84,000 after acquiring an additional 180 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

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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