SiTime (NASDAQ:SITM) Insider Sells $529,975.00 in Stock

Key Points

• Insider sale: Piyush Sevalia sold 1,247 shares at $425 each for a total of $529,975 on April 10 under a pre-arranged Rule 10b5‑1 plan, trimming his stake by 1.42% to 86,669 shares (about $36.8M).
• Earnings and outlook: SiTime beat the quarter with $1.53 EPS and $113.29M revenue (up 66.3% YoY) but still reported a negative net margin (-13.13%) and analysts forecast -2.44 EPS for the current year.
• Market view: Shares recently traded near $446 (1‑year high $460.28) with a market cap around $11.73B, a consensus "Moderate Buy" and average price target of about $409.38, while institutions own roughly 84.31% of the stock.

SiTime Corporation (NASDAQ:SITM - Get Free Report) insider Piyush Sevalia sold 1,247 shares of the company's stock in a transaction on Friday, April 10th. The shares were sold at an average price of $425.00, for a total value of $529,975.00. Following the completion of the sale, the insider owned 86,669 shares of the company's stock, valued at approximately $36,834,325. This trade represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SiTime Trading Down 0.2%

NASDAQ:SITM traded down $1.04 during mid-day trading on Tuesday, reaching $446.04. 364,974 shares of the stock were exchanged, compared to its average volume of 405,335. The business has a fifty day moving average price of $377.36 and a 200 day moving average price of $342.43. The firm has a market capitalization of $11.73 billion, a PE ratio of -245.08 and a beta of 2.57. SiTime Corporation has a 1-year low of $123.59 and a 1-year high of $460.28.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.33. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The company had revenue of $113.29 million during the quarter, compared to the consensus estimate of $101.91 million. During the same period in the prior year, the company earned $0.48 EPS. SiTime's revenue was up 66.3% on a year-over-year basis. On average, sell-side analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SITM. The Goldman Sachs Group initiated coverage on shares of SiTime in a report on Monday, December 15th. They set a "buy" rating and a $420.00 target price for the company. Needham & Company LLC increased their price objective on SiTime from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. UBS Group raised their price objective on SiTime from $430.00 to $485.00 and gave the stock a "buy" rating in a research note on Thursday, February 5th. Wall Street Zen cut SiTime from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SiTime in a research report on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $409.38.

Institutional Investors Weigh In On SiTime

Large investors have recently made changes to their positions in the company. Ariose Capital Management Ltd acquired a new position in SiTime in the 3rd quarter worth about $2,974,000. Emerald Mutual Fund Advisers Trust raised its stake in shares of SiTime by 10.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 98,689 shares of the company's stock worth $29,736,000 after purchasing an additional 9,492 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of SiTime by 25.0% during the 3rd quarter. Federated Hermes Inc. now owns 125,000 shares of the company's stock valued at $37,664,000 after buying an additional 25,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of SiTime by 145.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,215 shares of the company's stock valued at $3,681,000 after buying an additional 7,247 shares during the last quarter. Finally, Cibc World Market Inc. bought a new stake in shares of SiTime in the 3rd quarter valued at approximately $2,259,000. Institutional investors and hedge funds own 84.31% of the company's stock.

SiTime Company Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime's products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company's timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.

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