SiTime Co. (NASDAQ:SITM - Get Free Report) insider Piyush B. Sevalia sold 661 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $200.00, for a total transaction of $132,200.00. Following the completion of the sale, the insider now owns 86,555 shares in the company, valued at $17,311,000. This represents a 0.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
SiTime Price Performance
SiTime stock traded down $2.15 during mid-day trading on Thursday, reaching $200.63. 184,009 shares of the company traded hands, compared to its average volume of 246,640. SiTime Co. has a fifty-two week low of $105.40 and a fifty-two week high of $268.18. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of -49.54 and a beta of 2.24. The firm's fifty day moving average is $165.34 and its two-hundred day moving average is $190.84.
SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.15. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The company had revenue of $60.31 million for the quarter, compared to the consensus estimate of $54.01 million. During the same period last year, the firm earned ($0.08) EPS. The firm's revenue for the quarter was up 82.7% compared to the same quarter last year. As a group, equities research analysts predict that SiTime Co. will post -2.44 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on SITM. Barclays raised their price objective on shares of SiTime from $110.00 to $135.00 and gave the company an "underweight" rating in a research report on Thursday, May 8th. Stifel Nicolaus boosted their target price on shares of SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Raymond James reaffirmed an "outperform" rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Finally, Needham & Company LLC lifted 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. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, SiTime has a consensus rating of "Moderate Buy" and a consensus target price of $215.00.
Get Our Latest Stock Analysis on SiTime
Hedge Funds Weigh In On SiTime
Several hedge funds and other institutional investors have recently modified their holdings of SITM. Alliancebernstein L.P. increased its position in SiTime by 2,016.8% during the first quarter. Alliancebernstein L.P. now owns 443,227 shares of the company's stock worth $67,756,000 after purchasing an additional 422,288 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of SiTime by 27,559.1% in the first quarter. GAMMA Investing LLC now owns 261,102 shares of the company's stock valued at $39,915,000 after purchasing an additional 260,158 shares in the last quarter. Eventide Asset Management LLC lifted its stake in SiTime by 5,015.9% in the first quarter. Eventide Asset Management LLC now owns 166,214 shares of the company's stock worth $25,408,000 after acquiring an additional 162,965 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in SiTime by 360.8% in the first quarter. Neuberger Berman Group LLC now owns 135,211 shares of the company's stock worth $20,670,000 after acquiring an additional 105,868 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in SiTime by 11.0% in the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company's stock worth $210,921,000 after acquiring an additional 97,062 shares during the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.
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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