SiTime (NASDAQ:SITM) EVP Elizabeth Howe Sells 5,099 Shares

Key Points

• Elizabeth Howe, EVP of SiTime Corporation, sold 5,099 shares at an average price of $319.00, totaling approximately $1.63 million, reducing her ownership by 7.95% to 59,070 shares.
• SiTime's stock has recently risen by 3.6%, with current trading values around $312.79, reflecting a significant 52-week high of $323.66.
• Analysts have a mixed outlook on SiTime, with ratings ranging from sell to buy, and a consensus target price of $274.17 amidst substantial institutional investment.

SiTime Corporation (NASDAQ:SITM - Get Free Report) EVP Elizabeth Howe sold 5,099 shares of SiTime stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $319.00, for a total transaction of $1,626,581.00. Following the completion of the sale, the executive vice president owned 59,070 shares of the company's stock, valued at $18,843,330. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

SiTime Stock Up 3.6%

Shares of NASDAQ:SITM traded up $10.79 during trading on Wednesday, reaching $312.79. The stock had a trading volume of 296,731 shares, compared to its average volume of 335,406. SiTime Corporation has a 52 week low of $105.40 and a 52 week high of $323.66. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of -89.88 and a beta of 2.35. The stock has a fifty day simple moving average of $250.26 and a two-hundred day simple moving average of $207.36.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 EPS for the quarter, beating 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 company had revenue of $69.49 million for the quarter, compared to analyst estimates of $64.66 million. During the same quarter last year, the firm posted $0.12 earnings per share. The company's quarterly revenue was up 58.3% compared to the same quarter last year. On average, analysts forecast that SiTime Corporation will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of SiTime in a research report on Wednesday. Raymond James Financial reissued an "outperform" rating and issued a $270.00 price target (up previously from $250.00) on shares of SiTime in a research report on Friday, August 29th. Barclays boosted their target price on shares of SiTime from $180.00 to $220.00 and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Stifel Nicolaus boosted their target price on shares of SiTime from $230.00 to $320.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. Finally, UBS Group boosted their target price on shares of SiTime from $260.00 to $355.00 and gave the stock a "buy" rating in a research report on Monday. Five research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $274.17.

Institutional Investors Weigh In On SiTime

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its position in SiTime by 2,016.8% during the 1st quarter. Alliancebernstein L.P. now owns 443,227 shares of the company's stock worth $67,756,000 after buying an additional 422,288 shares in the last quarter. American Century Companies Inc. acquired a new position in SiTime during the 2nd quarter worth about $64,873,000. Eventide Asset Management LLC lifted its position in SiTime by 5,015.9% during the 1st quarter. Eventide Asset Management LLC now owns 166,214 shares of the company's stock worth $25,408,000 after buying an additional 162,965 shares in the last quarter. Ameriprise Financial Inc. lifted its position in SiTime by 22.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company's stock worth $156,887,000 after buying an additional 132,948 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its position in SiTime by 360.8% during the 1st quarter. Neuberger Berman Group LLC now owns 135,211 shares of the company's stock worth $20,670,000 after buying an additional 105,868 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.

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