SiTime (NASDAQ:SITM) Director Sells $212,940.03 in Stock

SiTime Corporation (NASDAQ:SITM) Director Raman Chitkara sold 501 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $425.03, for a total transaction of $212,940.03. Following the completion of the sale, the director owned 21,508 shares of the company’s stock, valued at approximately $9,141,545.24. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

SiTime Price Performance

Shares of NASDAQ:SITM opened at $327.35 on Friday. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $446.95. The stock has a market cap of $8.61 billion, a P/E ratio of -179.86 and a beta of 2.53. The firm has a fifty day moving average price of $377.53 and a 200 day moving average price of $323.40.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The company had revenue of $113.29 million for the quarter, compared to analyst estimates of $101.91 million. During the same period in the previous year, the business posted $0.48 earnings per share. SiTime’s quarterly revenue was up 66.3% on a year-over-year basis. Sell-side analysts expect that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on SITM shares. Stifel Nicolaus set a $450.00 price objective on SiTime in a research note on Thursday, February 5th. Barclays set a $400.00 target price on SiTime in a research note on Thursday, February 5th. Loop Capital initiated coverage on SiTime in a report on Friday, November 21st. They issued a “buy” rating and a $350.00 target price on the stock. Roth Mkm restated a “buy” rating and set a $450.00 price target on shares of SiTime in a research note on Thursday, February 5th. Finally, Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $409.38.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new position in SiTime in the fourth quarter worth $63,000. T. Rowe Price Investment Management Inc. boosted its position in shares of SiTime by 2,164.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 137,878 shares of the company’s stock worth $48,698,000 after purchasing an additional 131,789 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of SiTime by 5.9% during the 4th quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock worth $249,000 after purchasing an additional 39 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of SiTime by 18.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,036 shares of the company’s stock worth $366,000 after purchasing an additional 158 shares during the period. Finally, Summit Global Investments increased its holdings in shares of SiTime by 63.3% in the 4th quarter. Summit Global Investments now owns 1,659 shares of the company’s stock valued at $586,000 after purchasing an additional 643 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Company Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.