SiTime (NASDAQ:SITM) Insider Piyush Sevalia Sells 566 Shares

SiTime Corporation (NASDAQ:SITM) insider Piyush Sevalia sold 566 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $413.08, for a total value of $233,803.28. Following the completion of the sale, the insider directly owned 93,489 shares of the company’s stock, valued at $38,618,436.12. The trade was a 0.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

SiTime Price Performance

NASDAQ SITM traded up $21.13 during trading hours on Friday, reaching $417.70. The company’s stock had a trading volume of 68,241 shares, compared to its average volume of 328,377. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of -229.50 and a beta of 2.51. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $446.95. The company’s 50-day moving average is $372.04 and its two-hundred day moving average is $309.40.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. The company had revenue of $113.29 million for the quarter, compared to the consensus estimate of $101.91 million. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. SiTime’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share. Equities analysts forecast that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SITM has been the topic of several research analyst reports. The Goldman Sachs Group started coverage on shares of SiTime in a research note on Monday, December 15th. They set a “buy” rating and a $420.00 price target on the stock. Barclays set a $400.00 price objective on SiTime in a report on Thursday, February 5th. Roth Mkm reiterated a “buy” rating and issued a $450.00 price target on shares of SiTime in a report on Thursday, February 5th. UBS Group lifted their price objective on SiTime from $430.00 to $485.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, Stifel Nicolaus set a $450.00 target price on shares of SiTime in a research report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $409.38.

Institutional Trading of SiTime

A number of hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its stake in shares of SiTime by 2,164.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 137,878 shares of the company’s stock worth $48,698,000 after buying an additional 131,789 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of SiTime by 5.9% during the fourth quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock valued at $249,000 after buying an additional 39 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in SiTime by 18.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,036 shares of the company’s stock valued at $366,000 after acquiring an additional 158 shares in the last quarter. Summit Global Investments raised its stake in shares of SiTime by 63.3% during the fourth quarter. Summit Global Investments now owns 1,659 shares of the company’s stock valued at $586,000 after purchasing an additional 643 shares in the last quarter. Finally, State of Tennessee Department of Treasury lifted its stake in shares of SiTime by 3.7% in the 4th quarter. State of Tennessee Department of Treasury now owns 9,734 shares of the company’s stock worth $3,535,000 after acquiring an additional 345 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Company Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.