SiTime Co. (NASDAQ:SITM) Insider Sells $453,976.50 in Stock

SiTime Co. (NASDAQ:SITM) insider Lionel Bonnot sold 3,230 shares of SiTime stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $140.55, for a total transaction of $453,976.50. Following the completion of the transaction, the insider now directly owns 87,525 shares in the company, valued at $12,301,638.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Lionel Bonnot also recently made the following trade(s):

• On Monday, July 8th, Lionel Bonnot sold 3,203 shares of SiTime stock. The shares were sold at an average price of $140.26, for a total transaction of $449,252.78.
• On Monday, July 8th, Lionel Bonnot sold 3,203 shares of SiTime stock. The shares were sold at an average price of $140.26, for a total transaction of $449,252.78.
• On Tuesday, May 28th, Lionel Bonnot sold 1,229 shares of SiTime stock. The shares were sold at an average price of $130.00, for a total transaction of $159,770.00.

SiTime Price Performance

Shares of NASDAQ SITM traded up $7.66 during trading on Friday, hitting $144.75. 155,748 shares of the company were exchanged, compared to its average volume of 215,264. The company has a market cap of $3.31 billion, a price-to-earnings ratio of -35.05 and a beta of 1.82. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $165.11. The firm’s fifty day moving average price is $134.89 and its 200 day moving average price is $113.41.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, August 7th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.04 by $0.08. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The company had revenue of $43.90 million for the quarter, compared to analyst estimates of $41.01 million. During the same period in the previous year, the firm earned ($1.17) EPS. The business’s revenue was up 58.5% on a year-over-year basis. On average, research analysts forecast that SiTime Co. will post -3.03 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on SITM. Needham & Company LLC reissued a “buy” rating and issued a $130.00 price objective on shares of SiTime in a research note on Tuesday, June 25th. Barclays dropped their price objective on shares of SiTime from $130.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, Stifel Nicolaus boosted their target price on shares of SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th.

Institutional Investors Weigh In On SiTime

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after purchasing an additional 85,800 shares in the last quarter. Wasatch Advisors LP lifted its holdings in SiTime by 2.9% in the 4th quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock valued at $108,908,000 after purchasing an additional 25,324 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in SiTime by 15.2% in the 2nd quarter. Principal Financial Group Inc. now owns 388,999 shares of the company’s stock valued at $48,384,000 after purchasing an additional 51,407 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in SiTime by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock valued at $30,112,000 after purchasing an additional 35,491 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings 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 in the last quarter. 84.31% of the stock is currently owned by hedge funds and other 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.