SiTime (NASDAQ:SITM) Posts Earnings Results, Beats Estimates By $0.14 EPS

SiTime (NASDAQ:SITM) issued its earnings results on Wednesday. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.14, Briefing.com reports. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.88%. The business had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. During the same period in the previous year, the business earned ($0.81) EPS. The firm’s revenue was up 62.4% on a year-over-year basis.

SiTime Trading Down 0.0 %

Shares of SITM traded down $0.06 during mid-day trading on Friday, hitting $225.45. 337,459 shares of the company traded hands, compared to its average volume of 205,572. The business has a 50-day moving average of $169.16 and a 200 day moving average of $141.31. SiTime has a one year low of $72.39 and a one year high of $228.12. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of -54.46 and a beta of 1.83.

Insiders Place Their Bets

In related news, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the completion of the sale, the insider now directly owns 112,584 shares in the company, valued at $15,654,805.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SiTime news, insider Lionel Bonnot sold 3,230 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $140.55, for a total value of $453,976.50. Following the transaction, the insider now owns 87,525 shares of the company’s stock, valued at approximately $12,301,638.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 1,083 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the transaction, the insider now owns 112,584 shares of the company’s stock, valued at $15,654,805.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,464 shares of company stock valued at $5,372,893. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SITM shares. Barclays upped their price objective on SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research note on Friday. Stifel Nicolaus lifted their price objective on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Roth Mkm upped their target price on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Needham & Company LLC lifted their price target on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday.

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.