SiTime Co. (NASDAQ:SITM) Insider Samsheer Ahamad Sells 4,000 Shares

SiTime Co. (NASDAQ:SITM) insider Samsheer Ahamad sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $172.73, for a total value of $690,920.00. Following the completion of the transaction, the insider now owns 78,979 shares of the company’s stock, valued at $13,642,042.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

SiTime Stock Up 19.0 %

SITM opened at $225.51 on Friday. The firm has a 50-day moving average price of $167.54 and a 200-day moving average price of $140.26. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $227.63. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of -54.74 and a beta of 1.83.

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

Institutional Trading of SiTime

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LMR Partners LLP grew its holdings in SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after buying an additional 70,500 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in SiTime by 0.6% during the third quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock valued at $2,524,000 after acquiring an additional 94 shares in the last quarter. CIBC Asset Management Inc bought a new stake in SiTime during the 3rd quarter worth approximately $205,000. Saturna Capital Corp bought a new stake in SiTime during the 3rd quarter worth approximately $206,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in SiTime in the 3rd quarter worth approximately $236,000. 84.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SITM. Roth Mkm increased their price target on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday. Barclays downgraded shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price for the company. in a research report on Tuesday, August 27th. Needham & Company LLC raised their price target on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus increased 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.

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.