Key Points
- SiTime insider Fariborz Assaderaghi sold 1,709 shares on May 22 at an average price of $731.49, totaling about $1.25 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- SiTime reported strong quarterly results, posting $1.44 EPS versus the $1.14 consensus estimate and revenue of $113.57 million, well above expectations. Revenue also jumped 88.3% year over year.
- Analyst sentiment is mostly positive, with recent upgrades and price-target increases from firms including UBS, Barclays, and Roth Mkm. The stock’s average analyst rating is now Moderate Buy, with an average target price of $661.88.
SiTime Corporation (NASDAQ:SITM - Get Free Report) insider Fariborz Assaderaghi sold 1,709 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $731.49, for a total transaction of $1,250,116.41. Following the sale, the insider owned 81,436 shares of the company's stock, valued at approximately $59,569,619.64. The trade was a 2.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
SiTime Stock Down 2.3%
Shares of SITM stock opened at $726.21 on Thursday. The company has a 50 day moving average of $534.22 and a 200-day moving average of $418.52. SiTime Corporation has a 12-month low of $186.49 and a 12-month high of $901.81. The firm has a market cap of $19.17 billion, a P/E ratio of -719.02 and a beta of 2.91.
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, topping the consensus estimate of $1.14 by $0.30. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The company had revenue of $113.57 million during the quarter, compared to analyst estimates of $103.51 million. During the same quarter last year, the business posted $0.26 EPS. SiTime's quarterly revenue was up 88.3% compared to the same quarter last year. As a group, equities analysts expect that SiTime Corporation will post 3.23 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of SiTime in a research note on Tuesday, April 21st. Roth Mkm reiterated a "buy" rating and issued a $900.00 price objective on shares of SiTime in a research note on Thursday, May 7th. UBS Group lifted their price objective on shares of SiTime from $675.00 to $775.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of SiTime from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Finally, Barclays upgraded shares of SiTime from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $400.00 to $850.00 in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $661.88.
Get Our Latest Stock Analysis on SiTime
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Rakuten Securities Inc. grew its position in shares of SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company's stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Hantz Financial Services Inc. grew its position in shares of SiTime by 190.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company's stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Optiver Holding B.V. grew its position in shares of SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company's stock valued at $27,000 after purchasing an additional 32 shares in the last quarter. Parallel Advisors LLC grew its position in shares of SiTime by 26.2% during the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company's stock valued at $27,000 after purchasing an additional 16 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of 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 in the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.
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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