Key Points
- Insider sale: Piyush Sevalia sold 566 shares on Feb. 17 at an average price of $413.08 for about $233,803, leaving him with 93,489 shares (a 0.60% reduction in his stake).
- Quarterly results: SiTime beat expectations with $1.53 EPS (vs. $1.20) and $113.29M in revenue (up 66.3% YoY), but the company still shows a negative net margin (-13.13%) and negative ROE.
- Market and analyst view: The stock trades near recent highs (~$417.70) with a ~$11B market cap, ~84% institutional ownership, and an average analyst stance of "Moderate Buy" with an average target of $409.38 (individual targets range up to $485).
SiTime Corporation (NASDAQ:SITM - Get Free Report) insider Piyush Sevalia sold 566 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $413.08, for a total value of $233,803.28. Following the completion of the sale, the insider directly owned 93,489 shares of the company's stock, valued at approximately $38,618,436.12. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
SiTime Stock Performance
Shares of NASDAQ SITM traded up $21.13 during mid-day trading on Friday, reaching $417.70. 68,241 shares of the company traded hands, compared to its average volume of 328,377. The company's fifty day moving average is $372.04 and its two-hundred day moving average is $309.40. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $446.95. The stock has a market cap of $10.99 billion, a PE ratio of -229.50 and a beta of 2.51.
SiTime (NASDAQ:SITM - Get Free Report) last released its earnings results on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.20 by $0.33. The firm had revenue of $113.29 million during the quarter, compared to analysts' expectations of $101.91 million. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The business's quarterly revenue was up 66.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. Research analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current year.
Institutional Investors Weigh In On SiTime
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SITM. Rakuten Securities Inc. lifted its position in shares of SiTime by 188.5% in the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company's stock valued at $26,000 after buying an additional 49 shares during the last quarter. Hantz Financial Services Inc. raised its stake in SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company's stock valued at $27,000 after acquiring an additional 59 shares during the period. Optiver Holding B.V. raised its stake in SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company's stock valued at $27,000 after acquiring an additional 32 shares during the period. Larson Financial Group LLC lifted its holdings in SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company's stock valued at $30,000 after purchasing an additional 96 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in SiTime during the fourth quarter worth $33,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently issued reports on SITM. The Goldman Sachs Group initiated coverage on SiTime in a research note on Monday, December 15th. They set a "buy" rating and a $420.00 price target on the stock. UBS Group upped their target price on shares of SiTime from $430.00 to $485.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Loop Capital began coverage on shares of SiTime in a research report on Friday, November 21st. They set a "buy" rating and a $350.00 price target for the company. Barclays set a $400.00 price target on shares of SiTime in a research note on Thursday, February 5th. Finally, Roth Mkm restated a "buy" rating and issued a $450.00 price objective on shares of SiTime in a report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, SiTime presently has an average rating of "Moderate Buy" and an average target price of $409.38.
View Our Latest Research Report on SiTime
SiTime Company Profile
(
Get Free Report)
SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime's products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.
The company's timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.
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