SiTime Co. (NASDAQ:SITM) Director Raman Chitkara Sells 500 Shares

SiTime Co. (NASDAQ:SITM) Director Raman Chitkara sold 500 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $265.00, for a total value of $132,500.00. Following the completion of the transaction, the director now directly owns 20,719 shares of the company’s stock, valued at approximately $5,490,535. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

SiTime Price Performance

SiTime stock opened at $226.69 on Thursday. The stock has a market capitalization of $5.30 billion, a PE ratio of -54.76 and a beta of 1.86. The business has a 50 day simple moving average of $204.89 and a 200-day simple moving average of $163.33. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $268.18.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.26 by $0.14. The company had revenue of $57.70 million during the quarter, compared to analyst estimates of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The firm’s revenue was up 62.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.81) EPS. On average, equities research analysts anticipate that SiTime Co. will post -2.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SITM. Roth Mkm boosted their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their target price on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Needham & Company LLC raised their price target on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays upped their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SITM. FMR LLC boosted its holdings in SiTime by 1.1% in the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after buying an additional 39,119 shares during the last quarter. State Street Corp lifted its position in shares of SiTime by 3.1% in the third quarter. State Street Corp now owns 922,974 shares of the company’s stock valued at $158,299,000 after acquiring an additional 27,692 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after acquiring an additional 59,931 shares during the last quarter. Geode Capital Management LLC increased its position in shares of SiTime by 3.7% during the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock worth $75,637,000 after purchasing an additional 15,759 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in SiTime by 62.0% in the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after purchasing an additional 79,648 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

About SiTime

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.