SiTime (NASDAQ:SITM) Announces Earnings Results

SiTime (NASDAQ:SITM) posted its quarterly earnings results on Wednesday. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $0.42 by ($1.01), Zacks reports. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%.

SiTime Stock Up 3.9 %

Shares of NASDAQ SITM traded up $8.38 during midday trading on Wednesday, reaching $222.99. 412,801 shares of the company’s stock traded hands, compared to its average volume of 219,597. The stock’s 50 day simple moving average is $228.20 and its 200-day simple moving average is $186.20. The company has a market cap of $5.21 billion, a price-to-earnings ratio of -53.86 and a beta of 1.80. SiTime has a one year low of $72.39 and a one year high of $268.18.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SITM. Stifel Nicolaus lifted their target price on shares of SiTime from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC upped their target price on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Roth Mkm boosted their target price on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Barclays raised their price objective on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th.

Insider Buying and Selling at SiTime

In other news, Director Torsten Kreindl sold 6,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the sale, the director now owns 13,511 shares in the company, valued at approximately $2,984,039.46. The trade was a 30.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.16, for a total transaction of $210,160.00. Following the completion of the transaction, the insider now directly owns 108,574 shares of the company’s stock, valued at approximately $22,817,911.84. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,931 shares of company stock valued at $6,326,724. 2.30% of the stock is currently owned by corporate insiders.

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.