SiTime Co. (NASDAQ:SITM) Insider Sells $1,602,864.48 in Stock

SiTime Co. (NASDAQ:SITM) insider Samsheer Ahamad sold 7,728 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $207.41, for a total transaction of $1,602,864.48. Following the transaction, the insider now directly owns 78,095 shares in the company, valued at approximately $16,197,683.95. The trade was a 9.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

SiTime Price Performance

SiTime stock opened at $197.59 on Friday. The firm’s 50 day simple moving average is $161.61 and its 200-day simple moving average is $191.30. The company has a market cap of $4.69 billion, a P/E ratio of -48.79 and a beta of 2.24. SiTime Co. has a fifty-two week low of $105.40 and a fifty-two week high of $268.18.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.15. The business had revenue of $60.31 million for the quarter, compared to the consensus estimate of $54.01 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The firm’s quarterly revenue was up 82.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) earnings per share. On average, analysts expect that SiTime Co. will post -2.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SITM shares. Barclays lifted their price objective on shares of SiTime from $110.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, May 8th. Stifel Nicolaus lifted their price objective on shares of SiTime from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Needham & Company LLC lifted their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, SiTime presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of SiTime by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company’s stock worth $529,535,000 after acquiring an additional 52,310 shares in the last quarter. Invesco Ltd. increased its position in shares of SiTime by 11.0% in the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock worth $210,921,000 after acquiring an additional 97,062 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of SiTime by 17.0% during the first quarter. Ameriprise Financial Inc. now owns 603,333 shares of the company’s stock worth $92,233,000 after purchasing an additional 87,598 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of SiTime by 2,016.8% during the first quarter. Alliancebernstein L.P. now owns 443,227 shares of the company’s stock worth $67,756,000 after purchasing an additional 422,288 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of SiTime by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 442,897 shares of the company’s stock worth $95,037,000 after purchasing an additional 1,975 shares during the period. 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.