Insider Selling: SiTime (NASDAQ:SITM) Director Sells $511,200.00 in Stock

SiTime Corporation (NASDAQ:SITM) Director Torsten Kreindl sold 710 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $720.00, for a total transaction of $511,200.00. Following the transaction, the director owned 13,141 shares of the company’s stock, valued at approximately $9,461,520. The trade was a 5.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

SiTime Price Performance

NASDAQ:SITM opened at $728.56 on Monday. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81. The firm has a market capitalization of $19.23 billion, a PE ratio of -721.35 and a beta of 2.91. The business’s fifty day moving average price is $510.07 and its 200 day moving average price is $409.36.

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, topping analysts’ consensus estimates of $1.14 by $0.30. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The company had revenue of $113.57 million during the quarter, compared to the consensus estimate of $103.51 million. During the same period in the previous year, the business earned $0.26 EPS. SiTime’s revenue for the quarter was up 88.3% on a year-over-year basis. As a group, equities analysts anticipate that SiTime Corporation will post 3.23 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. UBS Group upped their target price on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Needham & Company LLC increased their target price on shares of SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $800.00 price objective on shares of SiTime in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, SiTime presently has an average rating of “Moderate Buy” and a consensus price target of $661.88.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in shares of SiTime by 53.7% in the first quarter. Bank of America Corp DE now owns 151,021 shares of the company’s stock valued at $52,155,000 after buying an additional 52,754 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of SiTime during the first quarter worth about $758,000. Janus Henderson Group PLC grew its holdings in shares of SiTime by 13.2% during the first quarter. Janus Henderson Group PLC now owns 14,448 shares of the company’s stock worth $4,994,000 after buying an additional 1,688 shares during the last quarter. California State Teachers Retirement System increased its position in SiTime by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 25,655 shares of the company’s stock valued at $8,860,000 after acquiring an additional 4,670 shares during the period. Finally, Regal Partners Ltd purchased a new stake in SiTime during the 1st quarter valued at approximately $288,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.