Insider Selling: SiTime Corporation (NASDAQ:SITM) EVP Sells 1,500 Shares of Stock

Key Points

• SiTime Corporation EVP Elizabeth A. Howe sold 1,500 shares at an average price of $208.00, totaling $312,000, which decreased her ownership by 2.06% to 71,474 shares.
• The company's stock price rose by 6.6% to $210.70, with a recent trading volume of 883,279 shares, significantly above its average volume of 261,507.
• SiTime reported second-quarter earnings of $0.26 per share, exceeding forecasts, alongside an 82.7% year-over-year revenue growth to $60.31 million.

SiTime Corporation (NASDAQ:SITM - Get Free Report) EVP Elizabeth A. Howe sold 1,500 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $208.00, for a total transaction of $312,000.00. Following the sale, the executive vice president directly owned 71,474 shares in the company, valued at approximately $14,866,592. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

SiTime Trading Up 0.4%

NASDAQ SITM traded up $0.77 during trading on Friday, reaching $199.57. The company's stock had a trading volume of 453,521 shares, compared to its average volume of 341,422. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of -57.35 and a beta of 2.20. SiTime Corporation has a 12 month low of $105.40 and a 12 month high of $268.18. The firm has a 50 day moving average price of $208.30 and a 200 day moving average price of $184.12.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.18. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The business had revenue of $69.49 million during the quarter, compared to analysts' expectations of $64.66 million. During the same period in the prior year, the company earned $0.12 EPS. The firm's quarterly revenue was up 58.3% compared to the same quarter last year. On average, equities analysts forecast that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of SiTime by 80.9% in the 1st quarter. GAMMA Investing LLC now owns 1,708 shares of the company's stock worth $261,000 after buying an additional 764 shares during the period. Wells Fargo & Company MN raised its stake in SiTime by 25.5% during the 4th quarter. Wells Fargo & Company MN now owns 14,788 shares of the company's stock worth $3,172,000 after acquiring an additional 3,004 shares during the period. Rhumbline Advisers raised its stake in SiTime by 0.9% during the 1st quarter. Rhumbline Advisers now owns 51,143 shares of the company's stock worth $7,818,000 after acquiring an additional 440 shares during the period. Millennium Management LLC raised its position in shares of SiTime by 205.0% during the fourth quarter. Millennium Management LLC now owns 7,344 shares of the company's stock valued at $1,576,000 after buying an additional 4,936 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of SiTime during the fourth quarter valued at approximately $217,000. 84.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Barclays increased their price target on shares of SiTime from $180.00 to $220.00 and gave the stock an "underweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $236.00.

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.