SiTime (NASDAQ:SITM) Trading Down 4% Following Insider Selling

SiTime Co. (NASDAQ:SITM)’s share price fell 4% on Monday following insider selling activity. The stock traded as low as $241.87 and last traded at $242.42. Approximately 29,146 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 204,928 shares. The stock had previously closed at $252.61.

Specifically, CEO Rajesh Vashist sold 12,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $259.25, for a total value of $3,111,000.00. Following the sale, the chief executive officer now directly owns 24,781 shares of the company’s stock, valued at approximately $6,424,474.25. This trade represents a 32.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vincent P. Pangrazio sold 3,064 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $255.00, for a total transaction of $781,320.00. Following the transaction, the insider now directly owns 65,978 shares of the company’s stock, valued at approximately $16,824,390. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. In related news, Director Raman Chitkara sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $265.00, for a total value of $132,500.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

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

SiTime Trading Up 0.5 %

The stock has a market capitalization of $5.80 billion, a PE ratio of -60.01 and a beta of 1.86. The business’s 50-day moving average is $203.99 and its two-hundred day moving average is $162.88.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The company had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. During the same quarter last year, the company earned ($0.81) earnings per share. SiTime’s revenue for the quarter was up 62.4% on a year-over-year basis. On average, analysts predict that SiTime Co. will post -2.98 EPS for the current year.

Hedge Funds Weigh In On SiTime

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in shares of SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of SiTime during the 2nd quarter valued at approximately $49,000. Van ECK Associates Corp acquired a new stake in shares of SiTime during the third quarter worth approximately $123,000. Finally, nVerses Capital LLC acquired a new stake in shares of SiTime during the second quarter worth approximately $124,000. 84.31% of the stock is 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.