SiTime Co. (NASDAQ:SITM) Insider Piyush B. Sevalia Sells 1,039 Shares

SiTime Co. (NASDAQ:SITM - Get Free Report) insider Piyush B. Sevalia sold 1,039 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $220.00, for a total transaction of $228,580.00. Following the transaction, the insider now directly owns 85,516 shares of the company's stock, valued at $18,813,520. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

SiTime Stock Down 1.8%

SITM stock traded down $3.83 during trading on Friday, hitting $210.27. The company had a trading volume of 243,820 shares, compared to its average volume of 249,835. SiTime Co. has a 52-week low of $105.40 and a 52-week high of $268.18. The firm has a market capitalization of $4.99 billion, a P/E ratio of -51.92 and a beta of 2.24. The company has a 50 day simple moving average of $175.79 and a 200-day simple moving average of $190.82.

SiTime (NASDAQ:SITM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.15. The company had revenue of $60.31 million during the quarter, compared to analysts' expectations of $54.01 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. SiTime's revenue for the quarter was up 82.7% on a year-over-year basis. During the same period last year, the business earned ($0.08) EPS. Sell-side analysts forecast that SiTime Co. will post -2.44 earnings per share for the current year.

Institutional Trading of SiTime

A number of institutional investors have recently bought and sold shares of the stock. Legato Capital Management LLC lifted its stake in SiTime by 111.2% during the 4th quarter. Legato Capital Management LLC now owns 5,450 shares of the company's stock valued at $1,169,000 after acquiring an additional 2,870 shares during the period. Van ECK Associates Corp increased its holdings in SiTime by 256.2% in the 4th quarter. Van ECK Associates Corp now owns 2,429 shares of the company's stock worth $521,000 after acquiring an additional 1,747 shares in the last quarter. New York State Teachers Retirement System increased its holdings in SiTime by 0.4% in the 4th quarter. New York State Teachers Retirement System now owns 23,700 shares of the company's stock worth $5,084,000 after acquiring an additional 100 shares in the last quarter. Blue Trust Inc. boosted its stake in SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after purchasing an additional 67 shares during the last quarter. Finally, Peregrine Investment Management Inc. acquired a new stake in SiTime during the 4th quarter worth $7,779,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Barclays upped their target price on shares of SiTime from $135.00 to $180.00 and gave the company an "underweight" rating in a report on Wednesday. Stifel Nicolaus upped their target price on shares of SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $224.00.

About SiTime

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.