SiTime (NASDAQ:SITM) Insider Sells $1,170,916.95 in Stock

SiTime Corporation (NASDAQ:SITM) insider Piyush Sevalia sold 2,419 shares of SiTime stock in a transaction on Friday, April 17th. The stock was sold at an average price of $484.05, for a total value of $1,170,916.95. Following the sale, the insider directly owned 84,250 shares of the company’s stock, valued at $40,781,212.50. This represents a 2.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SiTime Stock Down 0.9%

Shares of SITM traded down $4.53 during midday trading on Tuesday, reaching $523.57. 485,294 shares of the stock were exchanged, compared to its average volume of 403,775. SiTime Corporation has a twelve month low of $127.30 and a twelve month high of $539.99. The company has a market cap of $13.82 billion, a P/E ratio of -287.68 and a beta of 2.57. The stock’s 50 day simple moving average is $386.49 and its 200 day simple moving average is $348.91.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The company had revenue of $113.29 million during the quarter, compared to the consensus estimate of $101.91 million. During the same quarter last year, the firm earned $0.48 earnings per share. The company’s revenue was up 66.3% on a year-over-year basis. As a group, analysts predict that SiTime Corporation will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC grew its position in SiTime by 0.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock valued at $3,187,000 after acquiring an additional 25 shares during the last quarter. Optiver Holding B.V. grew its position in 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 last quarter. Atlas Brown Inc. grew its position in SiTime by 1.6% in the fourth quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock valued at $810,000 after acquiring an additional 37 shares during the last quarter. CWM LLC grew its position in SiTime by 4.2% in the fourth quarter. CWM LLC now owns 951 shares of the company’s stock valued at $336,000 after acquiring an additional 38 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in SiTime by 5.9% in the fourth quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock valued at $249,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

SITM has been the topic of a number of recent analyst reports. Wall Street Zen cut SiTime from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. UBS Group raised their price target on SiTime from $430.00 to $485.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research report on Thursday, January 22nd. Roth Mkm restated a “buy” rating and issued a $450.00 price target on shares of SiTime in a research report on Thursday, February 5th. Finally, Barclays set a $400.00 price target on SiTime in a research report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $415.63.

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.