SiTime Co. (NASDAQ:SITM) EVP Sells $887,606.20 in Stock

SiTime Co. (NASDAQ:SITM) EVP Piyush B. Sevalia sold 6,331 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $140.20, for a total transaction of $887,606.20. Following the sale, the executive vice president now directly owns 83,293 shares of the company’s stock, valued at approximately $11,677,678.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

SiTime Stock Performance

Shares of SITM stock opened at $155.15 on Friday. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $160.14. The stock has a market cap of $3.55 billion, a PE ratio of -37.78 and a beta of 1.82. The firm’s 50 day moving average price is $122.69 and its two-hundred day moving average price is $108.60.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.17). SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. The business had revenue of $33.02 million during the quarter, compared to the consensus estimate of $32.02 million. As a group, sell-side analysts predict that SiTime Co. will post -2.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price objective on shares of SiTime in a report on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.00.

Hedge Funds Weigh In On SiTime

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pineridge Advisors LLC bought a new position in SiTime in the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC boosted its position in shares of SiTime by 78.2% during the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after purchasing an additional 147 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of SiTime by 281.0% during the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after purchasing an additional 281 shares in the last quarter. Nemes Rush Group LLC boosted its position in shares of SiTime by 26.9% during the fourth quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after purchasing an additional 115 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of SiTime by 35.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock worth $84,000 after purchasing an additional 180 shares in the last quarter. 84.31% of the stock is owned by institutional investors.

SiTime Company Profile

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.