Piyush B. Sevalia Sells 1,338 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) insider Piyush B. Sevalia sold 1,338 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $180.00, for a total value of $240,840.00. Following the transaction, the insider now directly owns 86,196 shares in the company, valued at approximately $15,515,280. The transaction was disclosed in a filing with the SEC, which is available at this link.

SiTime Stock Performance

Shares of SiTime stock opened at $169.62 on Thursday. SiTime Co. has a one year low of $72.39 and a one year high of $181.00. The company has a market capitalization of $3.88 billion, a PE ratio of -41.07 and a beta of 1.82. The company has a 50-day simple moving average of $143.05 and a two-hundred day simple moving average of $123.39.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, August 7th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $41.01 million. During the same quarter in the prior year, the company posted ($1.17) earnings per share. SiTime’s revenue for the quarter was up 58.5% compared to the same quarter last year. On average, equities analysts predict that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SITM. Stifel Nicolaus increased their target price on shares of SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price objective on shares of SiTime in a research note on Tuesday, June 25th. Finally, Barclays downgraded shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective for the company. in a research note on Tuesday, August 27th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pineridge Advisors LLC acquired a new stake in SiTime in the fourth quarter worth about $25,000. Nisa Investment Advisors LLC boosted its stake in SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares in the last quarter. GAMMA Investing LLC increased its stake in SiTime by 281.0% during the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after purchasing an additional 281 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in SiTime during the 2nd quarter valued at approximately $49,000. Finally, PNC Financial Services Group Inc. lifted its stake 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 buying an additional 180 shares during the period. 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.