Key Points
- Insider sale: Director Piyush Sevalia sold 2,419 shares on April 17 at an average price of $484.05 for about $1.17 million, reducing his stake by 2.79% to 84,250 shares; the trade was executed under a pre-arranged Rule 10b5-1 plan.
- Strong quarterly results: SiTime reported $1.53 EPS versus a $1.20 consensus and revenue of $113.29 million (vs. $101.91M est.), with revenue up 66.3% year-over-year.
- Market and analyst context: The stock has traded near all-time highs (1-year high $539.99, recent open $523.57), the company has a $13.82 billion market cap and a "Moderate Buy" consensus with an average target of $415.63 and several price-target upgrades to $485–$500; institutional investors own about 84.31% of the shares.
SiTime Corporation (NASDAQ:SITM - Get Free Report) insider Piyush Sevalia sold 2,419 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $484.05, for a total transaction of $1,170,916.95. Following the sale, the insider owned 84,250 shares in the company, valued at approximately $40,781,212.50. This trade represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
SiTime Price Performance
Shares of NASDAQ SITM opened at $523.57 on Wednesday. The stock's 50-day moving average is $388.69 and its two-hundred day moving average is $350.43. SiTime Corporation has a 1-year low of $127.30 and a 1-year high of $539.99. The company has a market cap of $13.82 billion, a price-to-earnings ratio of -287.68 and a beta of 2.57.
SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, topping 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 company had revenue of $113.29 million for the quarter, compared to the consensus estimate of $101.91 million. During the same quarter in the prior year, the business earned $0.48 EPS. SiTime's revenue was up 66.3% on a year-over-year basis. Equities research analysts anticipate that SiTime Corporation will post 1.31 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of SiTime in the 1st quarter valued at about $292,000. Louisiana State Employees Retirement System purchased a new position in shares of SiTime in the 1st quarter valued at about $2,210,000. Atlas Brown Inc. increased its holdings in shares of SiTime by 2.2% in the 1st quarter. Atlas Brown Inc. now owns 2,342 shares of the company's stock valued at $809,000 after acquiring an additional 50 shares during the last quarter. Diversified Trust Co purchased a new position in shares of SiTime in the 1st quarter valued at about $327,000. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of SiTime by 1,368.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,259 shares of the company's stock valued at $1,151,000 after acquiring an additional 3,037 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on SITM. Stifel Nicolaus lifted their price target on shares of SiTime from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Roth Mkm reiterated a "buy" rating and issued a $450.00 price target on shares of SiTime in a research note on Thursday, February 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of SiTime in a research note on Thursday, January 22nd. Barclays set a $400.00 price target on shares of SiTime in a research note on Thursday, February 5th. Finally, UBS Group lifted their price target on shares of SiTime from $430.00 to $485.00 and gave the stock a "buy" rating in a research note on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $415.63.
Get Our Latest Stock Analysis on SITM
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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