SiTime (NASDAQ:SITM) Director Torsten Kreindl Sells 710 Shares

SiTime Corporation (NASDAQ:SITMGet Free Report) Director Torsten Kreindl sold 710 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $720.00, for a total value of $511,200.00. Following the completion of the transaction, the director owned 13,141 shares in the company, valued at $9,461,520. This represents a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SiTime Stock Up 2.1%

SITM stock opened at $711.79 on Friday. The firm has a 50 day moving average of $502.52 and a two-hundred day moving average of $406.26. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81. The company has a market capitalization of $18.79 billion, a price-to-earnings ratio of -704.74 and a beta of 2.91.

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

Analyst Ratings Changes

A number of research firms have weighed in on SITM. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $800.00 target price on shares of SiTime in a report on Thursday, May 7th. Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. Zacks Research upgraded SiTime from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Finally, Stifel Nicolaus upped their price target on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, April 16th. One equities 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $661.88.

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Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Rakuten Securities Inc. increased its position in SiTime by 188.5% in the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 49 shares during the period. Hantz Financial Services Inc. lifted its position in SiTime by 190.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Optiver Holding B.V. boosted its stake in shares of SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after purchasing an additional 32 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of SiTime by 26.2% in the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock valued at $27,000 after purchasing an additional 16 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for SiTime (NASDAQ:SITM)

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