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

SiTime (NASDAQ:SITM) posted 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 firm had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. During the same period last year, the firm posted ($0.81) EPS. The firm’s revenue for the quarter was up 62.4% on a year-over-year basis.

SiTime Trading Down 0.0 %

NASDAQ:SITM traded down $0.06 during trading hours on Friday, hitting $225.45. The stock had a trading volume of 337,459 shares, compared to its average volume of 205,572. The company has a market cap of $5.21 billion, a PE ratio of -54.46 and a beta of 1.83. The business has a 50 day simple moving average of $169.16 and a two-hundred day simple moving average of $141.31. SiTime has a 1-year low of $72.39 and a 1-year high of $228.12.

Insider Transactions at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 1,338 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $180.00, for a total value of $240,840.00. Following the completion of the transaction, the insider now directly owns 86,196 shares of the company’s stock, valued at $15,515,280. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Piyush B. Sevalia sold 1,338 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $180.00, for a total transaction of $240,840.00. Following the completion of the transaction, the insider now directly owns 86,196 shares in the company, valued at approximately $15,515,280. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $690,920.00. Following the completion of the sale, the insider now directly owns 78,979 shares in the company, valued at $13,642,042.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,464 shares of company stock valued at $5,372,893. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.