SiTime Co. (NASDAQ:SITM) Insider Piyush B. Sevalia Sells 1,661 Shares

SiTime Co. (NASDAQ:SITM - Get Free Report) insider Piyush B. Sevalia sold 1,661 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $193.99, for a total value of $322,217.39. Following the completion of the sale, the insider now owns 87,216 shares of the company's stock, valued at approximately $16,919,031.84. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

SiTime Stock Up 2.3%

SITM stock traded up $4.65 during midday trading on Friday, reaching $205.28. The company had a trading volume of 69,075 shares, compared to its average volume of 246,444. The stock has a 50 day moving average price of $166.29 and a 200 day moving average price of $190.84. SiTime Co. has a fifty-two week low of $105.40 and a fifty-two week high of $268.18. The firm has a market capitalization of $4.87 billion, a PE ratio of -50.70 and a beta of 2.24.

SiTime (NASDAQ:SITM - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.26 EPS 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 business had revenue of $60.31 million for the quarter, compared to the consensus estimate of $54.01 million. During the same period in the previous year, the business earned ($0.08) EPS. SiTime's revenue was up 82.7% compared to the same quarter last year. Research analysts predict that SiTime Co. will post -2.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Needham & Company LLC raised their target price on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Raymond James reissued an "outperform" rating and set a $250.00 target price (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Barclays raised their price objective on SiTime from $110.00 to $135.00 and gave the company an "underweight" rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus boosted 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. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, SiTime currently has an average rating of "Moderate Buy" and an average price target of $215.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Mutual of America Capital Management LLC grew its holdings in SiTime by 1.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company's stock worth $615,000 after acquiring an additional 48 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of SiTime by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company's stock worth $2,307,000 after buying an additional 57 shares during the last quarter. Blue Trust Inc. raised its position in SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after acquiring an additional 67 shares during the period. Summit Investment Advisors Inc. increased its position in SiTime by 4.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company's stock worth $417,000 after buying an additional 83 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in SiTime by 33.6% in the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company's stock valued at $54,000 after buying an additional 88 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company's stock.

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.