SiTime Co. (NASDAQ:SITM - Get Free Report) insider Piyush B. Sevalia sold 1,039 shares of SiTime stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $220.00, for a total value of $228,580.00. Following the sale, the insider now directly owns 85,516 shares of the company's stock, valued at approximately $18,813,520. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
SiTime Stock Down 1.8%
Shares of SiTime stock traded down $3.84 on Friday, hitting $210.26. The stock had a trading volume of 136,367 shares, compared to its average volume of 248,886. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of -51.86 and a beta of 2.24. The business's 50 day moving average is $173.92 and its two-hundred day moving average is $190.91. SiTime Co. has a twelve month low of $105.40 and a twelve month high of $268.18.
SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.15. The firm had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The company's revenue was up 82.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) EPS. As a group, equities analysts predict that SiTime Co. will post -2.44 earnings per share for the current fiscal year.
Institutional Investors Weigh In On SiTime
Large investors have recently bought and sold shares of the company. Alliancebernstein L.P. lifted its holdings in shares of SiTime by 2,016.8% during the 1st quarter. Alliancebernstein L.P. now owns 443,227 shares of the company's stock worth $67,756,000 after acquiring an additional 422,288 shares during the period. GAMMA Investing LLC lifted its stake in SiTime by 27,559.1% during the first quarter. GAMMA Investing LLC now owns 261,102 shares of the company's stock worth $39,915,000 after purchasing an additional 260,158 shares during the last quarter. Eventide Asset Management LLC boosted its holdings in shares of SiTime by 5,015.9% in the 1st quarter. Eventide Asset Management LLC now owns 166,214 shares of the company's stock valued at $25,408,000 after purchasing an additional 162,965 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of SiTime by 360.8% during the 1st quarter. Neuberger Berman Group LLC now owns 135,211 shares of the company's stock worth $20,670,000 after buying an additional 105,868 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in SiTime by 11.0% in the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company's stock valued at $210,921,000 after buying an additional 97,062 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently issued reports on SITM. Stifel Nicolaus upped their target price on SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Barclays increased their price target on shares of SiTime from $135.00 to $180.00 and gave the company an "underweight" rating in a research note on Wednesday. One 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $224.00.
Check Out Our Latest Report on SITM
About SiTime
(
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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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