Insider Selling: SiTime Co. (NASDAQ:SITM) Director Sells 6,000 Shares of Stock

SiTime Co. (NASDAQ:SITM) Director Torsten Kreindl sold 6,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the transaction, the director now directly owns 13,511 shares in the company, valued at approximately $2,984,039.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

SiTime Stock Down 3.9 %

SiTime stock traded down $8.48 during trading on Tuesday, reaching $206.78. The stock had a trading volume of 183,509 shares, compared to its average volume of 205,609. The business has a 50 day moving average price of $170.57 and a 200 day moving average price of $143.17. The stock has a market cap of $4.78 billion, a PE ratio of -50.26 and a beta of 1.83. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $228.12.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data 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. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The company had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. During the same quarter last year, the firm posted ($0.81) earnings per share. The business’s quarterly revenue was up 62.4% on a year-over-year basis. On average, equities analysts predict that SiTime Co. will post -3.03 EPS for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On SiTime

A number of hedge funds and other institutional investors have recently made changes to their positions in SITM. Signaturefd LLC boosted its stake in SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after buying an additional 88 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of SiTime by 0.6% during the third quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock worth $2,524,000 after acquiring an additional 94 shares during the last quarter. American International Group Inc. grew its holdings in SiTime by 1.2% in the 1st quarter. American International Group Inc. now owns 9,566 shares of the company’s stock valued at $892,000 after buying an additional 110 shares in the last quarter. Finally, Amalgamated Bank raised its position in SiTime by 2.3% in the 3rd quarter. Amalgamated Bank now owns 5,509 shares of the company’s stock valued at $945,000 after purchasing an additional 122 shares in the last quarter. 84.31% of the stock is owned by 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.