SiTime Corporation (NASDAQ:SITM - Get Free Report) insider Piyush Sevalia sold 2,000 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $242.66, for a total value of $485,320.00. Following the completion of the transaction, the insider directly owned 80,813 shares in the company, valued at $19,610,082.58. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
SiTime Stock Performance
Shares of NASDAQ:SITM traded down $8.34 during midday trading on Wednesday, reaching $224.49. The company's stock had a trading volume of 271,404 shares, compared to its average volume of 330,302. The firm has a 50 day moving average price of $212.44 and a two-hundred day moving average price of $187.91. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $268.18. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of -64.51 and a beta of 2.18.
SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, topping 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 the consensus estimate of $64.66 million. During the same period in the prior year, the business earned $0.12 EPS. The firm's revenue for the quarter was up 58.3% on a year-over-year basis. As a group, research analysts anticipate that SiTime Corporation will post -2.44 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $270.00 price target (up from $250.00) on shares of SiTime in a research note on Friday, August 29th. UBS Group assumed coverage on SiTime in a research note on Thursday, August 14th. They set a "buy" rating and a $260.00 price target on the stock. Barclays upped their price target on SiTime from $180.00 to $220.00 and gave the stock an "underweight" rating in a research note on Thursday, August 7th. Finally, Stifel Nicolaus upped their price target on SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SiTime currently has a consensus rating of "Moderate Buy" and a consensus price target of $243.33.
Read Our Latest Report on SITM
Institutional Trading of SiTime
Several institutional investors and hedge funds have recently modified their holdings of SITM. Lazard Asset Management LLC grew its holdings in shares of SiTime by 7.7% in the second quarter. Lazard Asset Management LLC now owns 654 shares of the company's stock valued at $139,000 after acquiring an additional 47 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of SiTime by 18.3% in the second quarter. Advisors Asset Management Inc. now owns 414 shares of the company's stock valued at $88,000 after acquiring an additional 64 shares in the last quarter. White Pine Capital LLC grew its holdings in shares of SiTime by 1.6% in the second quarter. White Pine Capital LLC now owns 5,376 shares of the company's stock valued at $1,146,000 after acquiring an additional 83 shares in the last quarter. Xponance Inc. grew its holdings in shares of SiTime by 7.2% in the first quarter. Xponance Inc. now owns 1,419 shares of the company's stock valued at $217,000 after acquiring an additional 95 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of SiTime by 35.6% in the second quarter. Smartleaf Asset Management LLC now owns 385 shares of the company's stock valued at $82,000 after acquiring an additional 101 shares in the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.
About SiTime
(
Get Free Report)
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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