Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells 4,000 Shares of Stock

SiTime Co. (NASDAQ:SITM - Get Free Report) insider Samsheer Ahamad sold 4,000 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $200.00, for a total transaction of $800,000.00. Following the completion of the transaction, the insider now owns 72,021 shares of the company's stock, valued at approximately $14,404,200. This trade represents a 5.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Samsheer Ahamad also recently made the following trade(s):

• On Tuesday, May 20th, Samsheer Ahamad sold 7,728 shares of SiTime stock. The stock was sold at an average price of $207.41, for a total transaction of $1,602,864.48.

SiTime Trading Down 1.1%

Shares of SiTime stock traded down $2.15 during mid-day trading on Thursday, reaching $200.63. 184,009 shares of the stock were exchanged, compared to its average volume of 246,640. The company has a market cap of $4.76 billion, a price-to-earnings ratio of -49.54 and a beta of 2.24. The firm has a 50-day simple moving average of $165.34 and a 200 day simple moving average of $190.84. SiTime Co. has a fifty-two week low of $105.40 and a fifty-two week 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 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.15. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The firm had revenue of $60.31 million during the quarter, compared to analysts' expectations of $54.01 million. During the same quarter last year, the company posted ($0.08) EPS. The company's quarterly revenue was up 82.7% compared to the same quarter last year. On average, research analysts predict that SiTime Co. will post -2.44 EPS for the current fiscal year.

Institutional Investors Weigh In On SiTime

Several institutional investors have recently modified their holdings of SITM. Fourth Dimension Wealth LLC bought a new position in SiTime in the fourth quarter valued at $25,000. Opal Wealth Advisors LLC bought a new position in SiTime in the first quarter valued at $32,000. Blue Trust Inc. grew its position in SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after purchasing an additional 67 shares in the last quarter. Advisors Asset Management Inc. grew 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 in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of SiTime in the 4th quarter valued at about $58,000. Institutional investors and hedge funds own 84.31% of the company's stock.

Analyst Ratings Changes

SITM has been the subject of a number of research analyst reports. Needham & Company LLC upped their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Barclays increased their price target on shares of SiTime from $110.00 to $135.00 and gave the stock an "underweight" rating in a research note on Thursday, May 8th. Stifel Nicolaus upped their price objective on shares of SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Raymond James reaffirmed an "outperform" rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.00.

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.