SiTime Co. (NASDAQ:SITM) Insider Sells $690,920.00 in Stock

SiTime Co. (NASDAQ:SITM) insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $172.73, for a total transaction of $690,920.00. Following the sale, the insider now owns 78,979 shares in the company, valued at approximately $13,642,042.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SiTime Price Performance

SITM opened at $225.51 on Friday. The firm has a market capitalization of $5.22 billion, a PE ratio of -54.74 and a beta of 1.83. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $227.63. The company’s 50-day moving average is $167.54 and its 200 day moving average is $140.26.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The company had revenue of $43.90 million for the quarter, compared to analyst estimates of $41.01 million. During the same quarter last year, the company earned ($1.17) earnings per share. The company’s revenue for the quarter was up 58.5% on a year-over-year basis. As a group, analysts expect that SiTime Co. will post -3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Stifel Nicolaus upped their target price on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Roth Mkm increased their price objective on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC boosted 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. Finally, Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective for the company. in a research note on Tuesday, August 27th.

Institutional Investors Weigh In On SiTime

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC boosted its holdings in SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. GAMMA Investing LLC boosted its holdings in SiTime by 281.0% during the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after purchasing an additional 281 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in SiTime during the second quarter worth about $49,000. Finally, Bessemer Group Inc. grew its position in SiTime by 70.1% in the 1st quarter. Bessemer Group Inc. now owns 1,213 shares of the company’s stock worth $113,000 after purchasing an additional 500 shares in the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

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.