SiTime (NASDAQ:SITM) Insider Samsheer Ahamad Sells 2,000 Shares

Key Points

• Insider Samsheer Ahamad sold 2,000 shares of SiTime Corporation at an average price of $226.57, totaling approximately $453,140, reducing their ownership by 2.86% to about 67,888 shares.
• SiTime's stock price has increased by 4.2%, reaching $244.57, with a market capitalization of $6.36 billion and a high of $268.18 over the past twelve months.
• Recent analyst reports have raised SiTime's price targets, with UBS setting a target of $260 and Raymond James increasing theirs to $270, reflecting optimism about the company's growth potential.

SiTime Corporation (NASDAQ:SITM - Get Free Report) insider Samsheer Ahamad sold 2,000 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $226.57, for a total value of $453,140.00. Following the sale, the insider directly owned 67,888 shares in the company, valued at approximately $15,381,384.16. This represents a 2.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

SiTime Trading Up 4.2%

Shares of NASDAQ SITM traded up $9.80 during mid-day trading on Monday, reaching $244.57. 300,348 shares of the company's stock were exchanged, compared to its average volume of 329,670. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of -70.28 and a beta of 2.18. The business has a fifty day simple moving average of $213.72 and a 200 day simple moving average of $189.03. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.18. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%.The business 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 earned $0.12 EPS. SiTime's revenue for the quarter was up 58.3% compared to the same quarter last year. Equities research analysts predict that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SITM has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on SiTime from $210.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, July 18th. UBS Group assumed coverage on SiTime in a research note on Thursday, August 14th. They issued a "buy" rating and a $260.00 price target for the company. Barclays raised their price target on SiTime from $180.00 to $220.00 and gave the company an "underweight" rating in a research note on Thursday, August 7th. Finally, Raymond James Financial restated an "outperform" rating and issued a $270.00 price target (up from $250.00) on shares of SiTime in a research note on Friday, August 29th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $243.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SITM. Alliancebernstein L.P. boosted its stake in SiTime by 2,016.8% in the 1st quarter. Alliancebernstein L.P. now owns 443,227 shares of the company's stock valued at $67,756,000 after purchasing an additional 422,288 shares during the period. American Century Companies Inc. bought a new stake in SiTime in the 2nd quarter valued at $64,873,000. GAMMA Investing LLC boosted its stake in SiTime by 27,559.1% in the 1st 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 during the period. Eventide Asset Management LLC boosted its stake in SiTime by 5,015.9% in the 1st quarter. Eventide Asset Management LLC now owns 166,214 shares of the company's stock valued at $25,408,000 after purchasing an additional 162,965 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in SiTime by 22.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company's stock valued at $156,887,000 after purchasing an additional 132,948 shares during the period. 84.31% of the stock is currently owned by institutional investors.

About SiTime

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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