Torsten Kreindl Sells 6,000 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) Director Torsten Kreindl sold 6,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the completion of the transaction, the director now directly owns 13,511 shares of the company’s stock, valued at approximately $2,984,039.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

SiTime Trading Down 3.9 %

SITM stock traded down $8.48 during midday trading on Tuesday, reaching $206.78. The stock had a trading volume of 183,509 shares, compared to its average volume of 205,609. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $228.12. The company has a market cap of $4.78 billion, a price-to-earnings ratio of -50.26 and a beta of 1.83. The company’s fifty day simple moving average is $170.57 and its 200 day simple moving average is $143.17.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. During the same period in the previous year, the company posted ($0.81) EPS. The company’s revenue was up 62.4% compared to the same quarter last year. Sell-side analysts predict that SiTime Co. will post -3.03 EPS for the current year.

Analysts Set New Price Targets

SITM has been the subject of a number of research reports. Needham & Company LLC upped their target price on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus raised their target price on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays raised their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday. Finally, Roth Mkm boosted their price objective on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Institutional Trading of SiTime

A number of hedge funds and other institutional investors have recently modified their holdings of SITM. Signaturefd LLC lifted its position in SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Nisa Investment Advisors LLC grew its position in SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after buying an additional 88 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in SiTime by 0.6% during the third quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock worth $2,524,000 after buying an additional 94 shares during the period. American International Group Inc. lifted its holdings in SiTime by 1.2% during the 1st quarter. American International Group Inc. now owns 9,566 shares of the company’s stock worth $892,000 after buying an additional 110 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of SiTime by 2.3% in the 3rd quarter. Amalgamated Bank now owns 5,509 shares of the company’s stock worth $945,000 after acquiring an additional 122 shares during 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.