Tom Dang-Hsing Yiu Sells 2,115 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) Director Tom Dang-Hsing Yiu sold 2,115 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $200.00, for a total value of $423,000.00. Following the completion of the transaction, the director now directly owns 18,500 shares of the company’s stock, valued at $3,700,000. This represents a 10.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

SiTime Stock Down 3.2%

Shares of NASDAQ SITM opened at $197.59 on Friday. The stock’s 50 day moving average price is $161.61 and its two-hundred day moving average price is $191.30. SiTime Co. has a 52-week low of $105.40 and a 52-week high of $268.18. The stock has a market capitalization of $4.69 billion, a P/E ratio of -48.79 and a beta of 2.24.

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

Wall Street Analysts Forecast Growth

SITM has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on SiTime from $180.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Raymond James restated an “outperform” rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC upped their price objective on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays upped their price objective on SiTime from $110.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

Institutional Trading of SiTime

A number of institutional investors and hedge funds have recently made changes to their positions in SITM. Alliancebernstein L.P. raised its position in shares of SiTime by 2,016.8% during the 1st 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. GAMMA Investing LLC raised its position in shares of SiTime by 27,559.1% during the 1st quarter. GAMMA Investing LLC now owns 261,102 shares of the company’s stock worth $39,915,000 after purchasing an additional 260,158 shares during the period. Eventide Asset Management LLC raised its position in shares of SiTime by 5,015.9% during the 1st quarter. Eventide Asset Management LLC now owns 166,214 shares of the company’s stock worth $25,408,000 after purchasing an additional 162,965 shares during the period. Neuberger Berman Group LLC raised its position in shares of SiTime by 360.8% during the 1st quarter. Neuberger Berman Group LLC now owns 135,211 shares of the company’s stock worth $20,670,000 after purchasing an additional 105,868 shares during the period. Finally, Invesco Ltd. raised its position in shares of SiTime by 11.0% during the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock worth $210,921,000 after purchasing an additional 97,062 shares during the period. 84.31% of the stock is currently owned by institutional investors and hedge funds.

About SiTime

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.