SiTime (NASDAQ:SITM) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

SiTime (NASDAQ:SITM) posted its earnings results on Wednesday. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14, Briefing.com reports. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.88%. The firm had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. During the same period last year, the firm posted ($0.81) EPS. The company’s revenue was up 62.4% on a year-over-year basis.

SiTime Price Performance

Shares of NASDAQ:SITM traded down $0.06 during trading on Friday, reaching $225.45. The company had a trading volume of 337,459 shares, compared to its average volume of 205,572. SiTime has a fifty-two week low of $72.39 and a fifty-two week high of $228.12. The stock’s fifty day moving average price is $169.16 and its 200 day moving average price is $141.31. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of -54.46 and a beta of 1.83.

Insider Buying and Selling

In other news, insider Fariborz Assaderaghi sold 1,083 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total transaction of $150,591.15. Following the transaction, the insider now directly owns 112,584 shares in the company, valued at $15,654,805.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the sale, the insider now directly owns 112,584 shares in the company, valued at $15,654,805.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Piyush B. Sevalia sold 807 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total value of $129,120.00. Following the completion of the transaction, the insider now owns 87,534 shares of the company’s stock, valued at $14,005,440. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,464 shares of company stock valued at $5,372,893 over the last three months. 2.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Roth Mkm lifted their target price on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays lifted their price target on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research report on Friday. Needham & Company LLC increased their price objective on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus lifted 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.

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.