Akira Takata Sells 1,500 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) Director Akira Takata sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the sale, the director owned 12,234 shares in the company, valued at $10,531,761.24. The trade was a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

SiTime Stock Performance

SITM stock opened at $774.06 on Friday. The company’s 50 day moving average price is $473.86 and its 200 day moving average price is $393.38. SiTime Corporation has a fifty-two week low of $186.49 and a fifty-two week high of $901.81. The firm has a market capitalization of $20.44 billion, a price-to-earnings ratio of -766.40 and a beta of 2.91.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.30. The firm had revenue of $113.57 million during the quarter, compared to the consensus estimate of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The firm’s quarterly revenue was up 88.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 earnings per share. Equities analysts forecast that SiTime Corporation will post 1.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SITM shares. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. UBS Group upped their price target on SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Barclays raised SiTime from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $400.00 to $850.00 in a report on Thursday, May 7th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $800.00 price target on shares of SiTime in a report on Thursday, May 7th. Finally, Needham & Company LLC upped their price target on SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, SiTime presently has an average rating of “Moderate Buy” and an average target price of $661.88.

Institutional Investors Weigh In On SiTime

Large investors have recently modified their holdings of the company. Rakuten Securities Inc. boosted its holdings in shares of SiTime by 188.5% in the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 49 shares during the period. Parallel Advisors LLC boosted its holdings in shares of SiTime by 26.2% in the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock valued at $27,000 after acquiring an additional 16 shares during the period. Optiver Holding B.V. boosted its holdings in shares of SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after acquiring an additional 32 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of SiTime by 190.3% in the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of SiTime in the fourth quarter valued at approximately $33,000. 84.31% of the stock is owned by institutional investors and hedge funds.

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.