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

SiTime Corporation (NASDAQ:SITM) Director Akira Takata sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the completion of the transaction, the director owned 12,234 shares of the company’s stock, valued at approximately $10,531,761.24. This represents a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

SiTime Price Performance

SITM stock traded down $15.10 during midday trading on Thursday, hitting $820.21. 524,031 shares of the stock traded hands, compared to its average volume of 470,396. The firm has a market cap of $21.65 billion, a P/E ratio of -812.09 and a beta of 2.91. The stock’s fifty day simple moving average is $466.05 and its 200-day simple moving average is $390.70. SiTime Corporation has a 1-year low of $186.49 and a 1-year high of $901.81.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its holdings in SiTime by 188.5% in the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Parallel Advisors LLC raised its position 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 buying an additional 16 shares during the last quarter. Optiver Holding B.V. lifted its stake in shares of SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after buying an additional 32 shares in the last quarter. Hantz Financial Services Inc. boosted its position in SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in SiTime during the fourth quarter worth about $33,000. 84.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SITM. Stifel Nicolaus upped their target price on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Barclays raised shares of SiTime from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $400.00 to $850.00 in a report on Thursday, May 7th. Needham & Company LLC increased their price objective on shares of SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Roth Mkm reiterated a “buy” rating and issued a $900.00 target price on shares of SiTime in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $800.00 price target on shares of SiTime in a research report on Thursday, May 7th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $661.88.

About SiTime

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.