SiTime (NASDAQ:SITM) Director Sells $903,000.00 in Stock

SiTime Corporation (NASDAQ:SITM – Get Free Report) Director Christine Heckart sold 1,290 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the sale, the director owned 790 shares in the company, valued at $553,000. This represents a 62.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

SiTime Trading Down 0.8%

SITM traded down $5.77 on Thursday, hitting $706.98. 455,928 shares of the company were exchanged, compared to its average volume of 636,926. SiTime Corporation has a twelve month low of $186.49 and a twelve month high of $901.81. The company has a market cap of $18.66 billion, a price-to-earnings ratio of -699.98 and a beta of 2.94. The firm has a 50-day moving average price of $577.29 and a two-hundred day moving average price of $435.37.

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SiTime (NASDAQ:SITM – Get Free Report) last released its 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. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The firm had revenue of $113.57 million during the quarter, compared to analysts’ expectations of $103.51 million. During the same period in the previous year, the firm posted $0.26 EPS. SiTime’s revenue for the quarter was up 88.3% on a year-over-year basis. Equities analysts expect that SiTime Corporation will post 3.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Needham & Company LLC boosted their target price on SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus boosted their target price on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Barclays raised SiTime from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $400.00 to $850.00 in a research note on Thursday, May 7th. UBS Group boosted their target price on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $800.00 price objective on shares of SiTime in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $661.88.

Read Our Latest Analysis on SITM

Institutional Trading of SiTime

Large investors have recently made changes to their positions in the company. Rakuten Securities Inc. boosted its position in shares of SiTime by 188.5% in the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Parallel Advisors LLC boosted its position 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 period. Optiver Holding B.V. raised its stake in SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after acquiring an additional 32 shares during the last quarter. Hantz Financial Services Inc. raised its stake 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 acquiring an additional 59 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in SiTime during the 4th quarter valued at approximately $33,000. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Company Profile

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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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