SiTime (NASDAQ:SITM) Stock Price Down 4% Following Insider Selling

Shares of SiTime Co. (NASDAQ:SITM) fell 4% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $241.87 and last traded at $242.42. 29,146 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 204,928 shares. The stock had previously closed at $252.61.

Specifically, CEO Rajesh Vashist sold 12,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $259.25, for a total value of $3,111,000.00. Following the transaction, the chief executive officer now owns 24,781 shares in the company, valued at $6,424,474.25. The trade was a 32.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Vincent P. Pangrazio sold 3,064 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $255.00, for a total value of $781,320.00. Following the sale, the insider now directly owns 65,978 shares of the company’s stock, valued at $16,824,390. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Raman Chitkara sold 500 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $265.00, for a total value of $132,500.00. Following the transaction, the director now owns 20,719 shares of the company’s stock, valued at approximately $5,490,535. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

Several equities analysts have issued reports on SITM shares. Stifel Nicolaus boosted their price objective on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Roth Mkm boosted their target price on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC increased their target price on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Barclays boosted their price target on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th.

SiTime Stock Up 0.5 %

The firm’s fifty day simple moving average is $203.99 and its 200-day simple moving average is $162.88. The company has a market cap of $5.80 billion, a PE ratio of -60.01 and a beta of 1.86.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The firm had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. SiTime’s revenue was up 62.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.81) EPS. On average, analysts predict that SiTime Co. will post -2.98 earnings per share for the current year.

Institutional Trading of SiTime

A number of large investors have recently made changes to their positions in SITM. LMR Partners LLP raised its stake in SiTime by 705.0% in the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after purchasing an additional 70,500 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of SiTime by 8.0% during the second quarter. Public Sector Pension Investment Board now owns 38,743 shares of the company’s stock worth $4,819,000 after buying an additional 2,861 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of SiTime in the second quarter valued at approximately $16,831,000. Creative Planning purchased a new position in shares of SiTime during the third quarter valued at approximately $842,000. Finally, Los Angeles Capital Management LLC acquired a new stake in SiTime during the second quarter worth approximately $647,000. Institutional investors and hedge funds 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.