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

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 SiTime stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $226.57, for a total value of $453,140.00. Following the transaction, the insider directly owned 67,888 shares of the company's stock, valued at $15,381,384.16. This trade represents a 2.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Samsheer Ahamad also recently made the following trade(s):

• On Thursday, September 11th, Samsheer Ahamad sold 3,811 shares of SiTime stock. The stock was sold at an average price of $255.03, for a total value of $971,919.33.
• On Wednesday, September 10th, Samsheer Ahamad sold 6,000 shares of SiTime stock. The stock was sold at an average price of $250.00, for a total value of $1,500,000.00.

SiTime Trading Up 0.6%

Shares of NASDAQ:SITM traded up $1.43 during midday trading on Friday, hitting $260.00. 257,427 shares of the stock were exchanged, compared to its average volume of 332,581. The stock has a market cap of $6.76 billion, a P/E ratio of -74.71 and a beta of 2.18. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $268.18. The company has a 50 day moving average price of $217.76 and a 200-day moving average price of $191.74.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Fourth Dimension Wealth LLC acquired a new position in shares of SiTime during the 4th quarter valued at about $25,000. Game Plan Financial Advisors LLC acquired a new position in shares of SiTime during the 2nd quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new position in shares of SiTime during the 1st quarter valued at about $32,000. Advisors Asset Management Inc. increased its stake in shares of SiTime by 33.6% during the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company's stock valued at $54,000 after acquiring an additional 88 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of SiTime during the 2nd quarter valued at about $58,000. Institutional investors and hedge funds own 84.31% of the company's stock.

Wall Street Analyst Weigh In

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

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.