SiTime Co. (NASDAQ:SITM) Insider Sells $781,320.00 in Stock

SiTime Co. (NASDAQ:SITM) insider Vincent P. Pangrazio sold 3,064 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $255.00, for a total value of $781,320.00. Following the transaction, the insider now owns 65,978 shares of the company’s stock, valued at $16,824,390. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

SiTime Stock Down 8.8 %

Shares of SiTime stock opened at $226.69 on Thursday. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18. The company has a market cap of $5.30 billion, a price-to-earnings ratio of -54.76 and a beta of 1.86. The company’s 50 day moving average is $204.89 and its 200 day moving average is $163.33.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The firm had revenue of $57.70 million for the quarter, compared to analysts’ expectations of $55.10 million. During the same period in the prior year, the firm earned ($0.81) EPS. The company’s revenue was up 62.4% compared to the same quarter last year. Sell-side analysts expect that SiTime Co. will post -2.98 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On SiTime

Large investors have recently made changes to their positions in the company. Driehaus Capital Management LLC bought a new position in shares of SiTime in the 2nd quarter worth approximately $16,831,000. William Blair Investment Management LLC raised its position in SiTime by 62.0% in the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after acquiring an additional 79,648 shares during the period. F M Investments LLC purchased a new position in shares of SiTime during the 2nd quarter worth $8,909,000. LMR Partners LLP grew its position in shares of SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after acquiring an additional 70,500 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after purchasing an additional 59,931 shares in the last quarter. 84.31% of the stock is currently 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.