SiTime (NASDAQ:SITM) Director Christine Heckart Sells 1,290 Shares of Stock

SiTime Corporation (NASDAQ:SITM) Director Christine Heckart sold 1,290 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $700.00, for a total transaction of $903,000.00. Following the completion of the transaction, the director owned 790 shares of the company’s stock, valued at approximately $553,000. This trade represents a 62.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

SiTime Stock Down 0.8%

NASDAQ:SITM opened at $706.98 on Friday. The company has a fifty day simple moving average of $577.29 and a two-hundred day simple moving average of $435.37. The company has a market cap of $18.66 billion, a price-to-earnings ratio of -699.98 and a beta of 2.94. SiTime Corporation has a 52 week low of $186.49 and a 52 week high of $901.81.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.14 by $0.30. The business had revenue of $113.57 million during the quarter, compared to the consensus estimate of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The company’s quarterly revenue was up 88.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. On average, analysts expect that SiTime Corporation will post 3.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on SITM. Needham & Company LLC boosted their price target on shares of SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Roth Mkm restated a “buy” rating and issued a $900.00 price target on shares of SiTime in a research note on Thursday, May 7th. Stifel Nicolaus boosted their price target on shares of SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $800.00 price target on shares of SiTime in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, SiTime has a consensus rating of “Moderate Buy” and an average target price of $661.88.

Hedge Funds Weigh In On SiTime

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of SiTime by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock worth $997,904,000 after purchasing an additional 61,336 shares in the last quarter. Invesco Ltd. grew its stake in shares of SiTime by 1.8% during the third quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock worth $312,550,000 after purchasing an additional 18,165 shares in the last quarter. State Street Corp grew its stake in shares of SiTime by 3.7% during the second quarter. State Street Corp now owns 911,280 shares of the company’s stock worth $194,176,000 after purchasing an additional 32,178 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after purchasing an additional 132,948 shares in the last quarter. Finally, Whale Rock Capital Management LLC grew its stake in shares of SiTime by 45.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock worth $246,717,000 after purchasing an additional 218,038 shares in the last quarter. Institutional investors and hedge funds 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.