SiTime Co. (NASDAQ:SITM) Insider Piyush B. Sevalia Sells 807 Shares

SiTime Co. (NASDAQ:SITM) insider Piyush B. Sevalia sold 807 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total transaction of $129,120.00. Following the sale, the insider now directly owns 87,534 shares in the company, valued at approximately $14,005,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SiTime Stock Down 2.6 %

NASDAQ SITM opened at $163.57 on Friday. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -39.61 and a beta of 1.82. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $170.71. The stock has a fifty day simple moving average of $140.48 and a 200 day simple moving average of $119.05.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.08. The company had revenue of $43.90 million during the quarter, compared to analysts’ expectations of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The business’s quarterly revenue was up 58.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.17) earnings per share. Research analysts expect that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SITM. Stifel Nicolaus upped their target price on SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Barclays downgraded SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective for the company. in a research note on Tuesday, August 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $130.00 target price on shares of SiTime in a research report on Tuesday, June 25th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in SiTime by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock worth $30,112,000 after buying an additional 35,491 shares during the last quarter. Norges Bank bought a new position in shares of SiTime in the 4th quarter worth about $12,662,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of SiTime by 73.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock valued at $2,750,000 after purchasing an additional 12,500 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of SiTime by 31.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company’s stock valued at $1,712,000 after purchasing an additional 4,410 shares in the last quarter. Finally, UniSuper Management Pty Ltd acquired a new stake in SiTime during the first quarter worth approximately $363,000. Institutional investors own 84.31% of the company’s stock.

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.