SiTime Corporation (NASDAQ:SITM) EVP Elizabeth A. Howe Sells 1,500 Shares

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 company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $208.00, for a total value of $312,000.00. Following the completion of the transaction, the executive vice president directly owned 71,474 shares of the company's stock, valued at approximately $14,866,592. The trade was a 2.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SiTime Trading Up 6.6%

SITM traded up $12.97 on Wednesday, hitting $210.70. 883,279 shares of the company's stock were exchanged, compared to its average volume of 261,507. The firm has a 50-day moving average price of $207.90 and a 200-day moving average price of $185.18. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of -55.45 and a beta of 2.20. SiTime Corporation 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 released its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.15. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. The company had revenue of $60.31 million during the quarter, compared to the consensus estimate of $54.01 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. SiTime's revenue for the quarter was up 82.7% on a year-over-year basis. On average, equities analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

Institutional Investors Weigh In On SiTime

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in SiTime by 80.9% in the first quarter. GAMMA Investing LLC now owns 1,708 shares of the company's stock valued at $261,000 after acquiring an additional 764 shares during the last quarter. Wells Fargo & Company MN raised its holdings in SiTime by 25.5% in the 4th quarter. Wells Fargo & Company MN now owns 14,788 shares of the company's stock valued at $3,172,000 after buying an additional 3,004 shares during the last quarter. Rhumbline Advisers grew its holdings in SiTime by 0.9% in the first quarter. Rhumbline Advisers now owns 51,143 shares of the company's stock worth $7,818,000 after purchasing an additional 440 shares during the period. Millennium Management LLC grew its holdings in SiTime by 205.0% during the fourth quarter. Millennium Management LLC now owns 7,344 shares of the company's stock worth $1,576,000 after buying an additional 4,936 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in SiTime in the fourth quarter valued at about $217,000. Institutional investors and hedge funds own 84.31% of the company's stock.

Analyst Upgrades and Downgrades

SITM has been the subject of a number of research reports. Stifel Nicolaus upped their price objective on SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Barclays increased their target price on SiTime from $135.00 to $180.00 and gave the company an "underweight" rating in a research report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.00.

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.

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