Key Points
- SiTime director Torsten Kreindl sold 710 shares on May 21 at an average price of $720, totaling about $511,200. After the sale, he still held 13,141 shares, and the transaction reduced his position by 5.13%.
- The stock was trading higher, opening at $728.56 and rising 2.4% on Friday. SiTime remains a large-cap stock with a $19.23 billion market value and a 52-week range of $186.49 to $901.81.
- Recent earnings beat expectations, with SiTime reporting $1.44 EPS versus the $1.14 consensus and revenue of $113.57 million, up 88.3% year over year. Analysts currently have a Moderate Buy average rating and a $661.88 price target.
SiTime Corporation (NASDAQ:SITM - Get Free Report) Director Torsten Kreindl sold 710 shares of the company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $720.00, for a total value of $511,200.00. Following the transaction, the director directly owned 13,141 shares in the company, valued at $9,461,520. This trade represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
SiTime Stock Up 2.4%
Shares of SITM opened at $728.56 on Friday. SiTime Corporation has a 12-month low of $186.49 and a 12-month high of $901.81. The firm has a market capitalization of $19.23 billion, a PE ratio of -721.35 and a beta of 2.91. The stock's fifty day simple moving average is $510.07 and its 200-day simple moving average is $408.52.
SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.30. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The business had revenue of $113.57 million for the quarter, compared to analyst estimates of $103.51 million. During the same quarter in the prior year, the firm posted $0.26 earnings per share. The firm's revenue for the quarter was up 88.3% compared to the same quarter last year. Analysts anticipate that SiTime Corporation will post 3.23 EPS for the current year.
Analysts Set New Price Targets
Several research firms have weighed in on SITM. Zacks Research raised SiTime from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 15th. Stifel Nicolaus increased their target price on SiTime from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Barclays raised SiTime from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $400.00 to $850.00 in a research note on Thursday, May 7th. Roth Mkm reissued a "buy" rating and issued a $900.00 target price on shares of SiTime in a research note on Thursday, May 7th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of SiTime in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $661.88.
View Our Latest Stock Analysis on SITM
Institutional Investors Weigh In On SiTime
A number of hedge funds have recently modified their holdings of SITM. Rakuten Securities Inc. raised its position in shares of SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company's stock worth $26,000 after purchasing an additional 49 shares during the period. Hantz Financial Services Inc. raised its position in shares of SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company's stock worth $27,000 after purchasing an additional 59 shares during the period. Optiver Holding B.V. raised its position 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 period. Parallel Advisors LLC raised its position in shares of SiTime by 26.2% during the first quarter. Parallel Advisors LLC now owns 77 shares of the company's stock worth $27,000 after purchasing an additional 16 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of SiTime by 3,200.0% during the third quarter. Larson Financial Group LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 84.31% of the company's stock.
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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