SiTime (NASDAQ:SITM) Releases Quarterly Earnings Results

SiTime (NASDAQ:SITM) released its quarterly earnings results on Wednesday. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14, Briefing.com reports. The company had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. SiTime had a negative return on equity of 9.88% and a negative net margin of 53.55%. SiTime’s revenue was up 62.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.81) earnings per share.

SiTime Stock Down 0.0 %

Shares of NASDAQ:SITM traded down $0.06 during midday trading on Friday, reaching $225.45. The company had a trading volume of 337,459 shares, compared to its average volume of 205,572. SiTime has a 1-year low of $72.39 and a 1-year high of $228.12. The stock has a market cap of $5.21 billion, a PE ratio of -54.46 and a beta of 1.83. The business’s 50 day moving average price is $169.16 and its 200 day moving average price is $141.31.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SITM shares. Barclays increased 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. Stifel Nicolaus lifted their price target on 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 upped their price objective on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Roth Mkm boosted their target price on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday.

Insider Buying and Selling at SiTime

In other news, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $172.73, for a total value of $690,920.00. Following the completion of the transaction, the insider now owns 78,979 shares of the company’s stock, valued at $13,642,042.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other SiTime news, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total transaction of $150,591.15. Following the completion of the transaction, the insider now directly owns 112,584 shares of the company’s stock, valued at $15,654,805.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $172.73, for a total transaction of $690,920.00. Following the completion of the transaction, the insider now directly owns 78,979 shares in the company, valued at $13,642,042.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,464 shares of company stock worth $5,372,893 over the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

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.