Insider Selling: SiTime Co. (NASDAQ:SITM) Director Sells 500 Shares of Stock

SiTime Co. (NASDAQ:SITM) Director Raman Chitkara sold 500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $265.00, for a total value of $132,500.00. Following the transaction, the director now owns 20,719 shares in the company, valued at approximately $5,490,535. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

SiTime Stock Down 2.2 %

SITM traded down $5.51 during trading on Monday, hitting $247.11. The company had a trading volume of 273,132 shares, compared to its average volume of 205,972. The firm’s 50-day moving average price is $201.30 and its 200 day moving average price is $161.14. The company has a market capitalization of $5.77 billion, a PE ratio of -58.96 and a beta of 1.86. SiTime Co. has a one year low of $72.39 and a one year high of $268.18.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping 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 company had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. During the same period in the prior year, the firm earned ($0.81) earnings per share. SiTime’s revenue for the quarter was up 62.4% compared to the same quarter last year. Sell-side analysts forecast that SiTime Co. will post -2.98 earnings per share for the current year.

Wall Street Analyst Weigh In

SITM has been the topic of several recent analyst reports. Needham & Company LLC lifted their price objective on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays increased their target price on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Stifel Nicolaus boosted their price target on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Roth Mkm raised 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new position in SiTime during the third quarter worth $166,000. Virtu Financial LLC bought a new position in shares of SiTime in the 3rd quarter valued at about $204,000. Geode Capital Management LLC increased its position in shares of SiTime by 3.7% in the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock valued at $75,637,000 after acquiring an additional 15,759 shares during the last quarter. Barclays PLC boosted its position in SiTime by 80.7% during the third quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after purchasing an additional 16,964 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in SiTime by 6.1% in the third quarter. Public Employees Retirement System of Ohio now owns 17,960 shares of the company’s stock valued at $3,080,000 after purchasing an additional 1,039 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.