Piyush B. Sevalia Sells 1,338 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) insider Piyush B. Sevalia sold 1,338 shares of SiTime stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $180.00, for a total value of $240,840.00. Following the sale, the insider now directly owns 86,196 shares of the company’s stock, valued at approximately $15,515,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SiTime Stock Performance

Shares of NASDAQ SITM opened at $169.62 on Thursday. The company has a market capitalization of $3.88 billion, a PE ratio of -41.07 and a beta of 1.82. The company’s fifty day moving average price is $143.05 and its 200 day moving average price is $123.39. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $181.00.

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays downgraded shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective on the stock. in a report on Tuesday, August 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of SiTime in a research report on Tuesday, June 25th. Finally, Stifel Nicolaus lifted their price objective on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 18th.

Institutional Trading of SiTime

A number of institutional investors and hedge funds have recently made changes to their positions in SITM. Norges Bank acquired a new position in shares of SiTime during the 4th quarter worth about $12,662,000. Alberta Investment Management Corp grew its stake in SiTime by 5.8% during the 4th quarter. Alberta Investment Management Corp now owns 11,799 shares of the company’s stock valued at $1,440,000 after acquiring an additional 648 shares in the last quarter. S Squared Technology LLC raised its holdings in SiTime by 6.7% in the 4th quarter. S Squared Technology LLC now owns 80,046 shares of the company’s stock valued at $9,772,000 after acquiring an additional 5,000 shares during the last quarter. Ghisallo Capital Management LLC purchased a new position in SiTime in the 4th quarter worth approximately $2,495,000. Finally, Wasatch Advisors LP boosted its holdings in shares of SiTime by 2.9% during the 4th quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock worth $108,908,000 after purchasing an additional 25,324 shares during the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

About SiTime

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.