Key Points
- Insider sale: Director Raman Chitkara sold 501 shares on March 2 at an average price of $425.03 for proceeds of $212,940, leaving him with 21,508 shares (a 2.28% ownership decrease).
- Company performance: SiTime posted a Q4 beat with $1.53 EPS and $113.29M revenue (up 66.3% YoY) but still has a negative net margin and analysts forecast -2.44 EPS for the year while the stock trades near its 1‑year high with a consensus target of $409.38.
SiTime Corporation (NASDAQ:SITM - Get Free Report) Director Raman Chitkara sold 501 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $425.03, for a total transaction of $212,940.03. Following the completion of the sale, the director owned 21,508 shares in the company, valued at $9,141,545.24. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
SiTime Stock Performance
Shares of SITM traded up $6.18 during trading hours on Thursday, reaching $389.65. 88,813 shares of the company traded hands, compared to its average volume of 329,445. The stock's fifty day moving average is $378.96 and its 200 day moving average is $322.46. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $446.95. The stock has a market cap of $10.25 billion, a P/E ratio of -214.09 and a beta of 2.53.
SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly 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. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The firm had revenue of $113.29 million during the quarter, compared to analysts' expectations of $101.91 million. During the same quarter in the prior year, the firm posted $0.48 EPS. The company's revenue for the quarter was up 66.3% on a year-over-year basis. On average, equities research analysts predict that SiTime Corporation will post -2.44 EPS for the current year.
Wall Street Analysts Forecast Growth
SITM has been the subject of a number of recent research reports. Weiss Ratings restated a "sell (d-)" rating on shares of SiTime in a research note on Thursday, January 22nd. Roth Mkm reissued a "buy" rating and issued a $450.00 price target on shares of SiTime in a research report on Thursday, February 5th. Loop Capital started coverage on SiTime in a report on Friday, November 21st. They set a "buy" rating and a $350.00 price objective on the stock. Barclays set a $400.00 price objective on SiTime in a research note on Thursday, February 5th. Finally, Raymond James Financial restated an "outperform" rating on shares of SiTime in a research report on Tuesday, December 2nd. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, SiTime presently has an average rating of "Moderate Buy" and a consensus target price of $409.38.
Get Our Latest Stock Report on SITM
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC increased its holdings in SiTime by 0.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company's stock valued at $3,187,000 after purchasing an additional 25 shares in the last quarter. Optiver Holding B.V. grew its holdings in shares of SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company's stock worth $27,000 after purchasing an additional 32 shares during the last quarter. Atlas Brown Inc. grew its holdings in shares of SiTime by 1.6% during the fourth quarter. Atlas Brown Inc. now owns 2,292 shares of the company's stock worth $810,000 after purchasing an additional 37 shares during the last quarter. CWM LLC increased its stake in shares of SiTime by 4.2% in the fourth quarter. CWM LLC now owns 951 shares of the company's stock valued at $336,000 after buying an additional 38 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of SiTime by 5.9% in the fourth quarter. Corient Private Wealth LLC now owns 703 shares of the company's stock valued at $249,000 after buying an additional 39 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.
About SiTime
(
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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