Insider Selling: SiTime (NASDAQ:SITM) Insider Sells $971,919.33 in Stock

SiTime Corporation (NASDAQ:SITM) insider Samsheer Ahamad sold 3,811 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $255.03, for a total transaction of $971,919.33. Following the transaction, the insider owned 58,077 shares in the company, valued at approximately $14,811,377.31. This trade represents a 6.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Samsheer Ahamad also recently made the following trade(s):

• On Wednesday, September 10th, Samsheer Ahamad sold 6,000 shares of SiTime stock. The stock was sold at an average price of $250.00, for a total transaction of $1,500,000.00.
• On Wednesday, September 3rd, Samsheer Ahamad sold 2,000 shares of SiTime stock. The shares were sold at an average price of $226.57, for a total value of $453,140.00.

SiTime Price Performance

SITM stock opened at $260.00 on Monday. SiTime Corporation has a 1 year low of $105.40 and a 1 year high of $268.18. The company has a market cap of $6.76 billion, a P/E ratio of -74.71 and a beta of 2.18. The stock’s fifty day moving average price is $217.76 and its 200-day moving average price is $192.01.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.18. The company had revenue of $69.49 million for the quarter, compared to the consensus estimate of $64.66 million. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%.SiTime’s revenue was up 58.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 earnings per share. As a group, analysts expect that SiTime Corporation will post -2.44 earnings per share for the current year.

Hedge Funds Weigh In On SiTime

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fourth Dimension Wealth LLC bought a new stake in shares of SiTime in the fourth quarter worth about $25,000. Game Plan Financial Advisors LLC purchased a new position in shares of SiTime in the second quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in SiTime in the first quarter worth $32,000. Advisors Asset Management Inc. raised its stake in SiTime by 33.6% during the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after purchasing an additional 88 shares in the last quarter. Finally, State of Wyoming bought a new position in SiTime during the second quarter valued at $58,000. Institutional investors own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

SITM has been the subject of several recent research reports. UBS Group started coverage on shares of SiTime in a research report on Thursday, August 14th. They set a “buy” rating and a $260.00 target price for the company. Stifel Nicolaus boosted their price objective on shares of SiTime from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Barclays upped their price objective on SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a research note on Thursday, August 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $270.00 price objective (up previously from $250.00) on shares of SiTime in a research note on Friday, August 29th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.33.

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.