Key Points
- SiTime director Christine Heckart sold 1,290 shares on June 2 at an average price of $700, totaling about $903,000. After the sale, she directly owned 790 shares, cutting her stake by 62.02%.
- The stock has been strong recently, opening at $706.98 and trading near its 52-week high of $901.81. SiTime’s market cap is about $18.66 billion, and the shares have sharply outperformed their 200-day average of $435.37.
- SiTime reported better-than-expected quarterly results on May 6, with EPS of $1.44 versus the $1.14 consensus and revenue of $113.57 million, up 88.3% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $661.88.
SiTime Corporation (NASDAQ:SITM - Get Free Report) Director Christine Heckart sold 1,290 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total transaction of $903,000.00. Following the completion of the sale, the director directly owned 790 shares of the company's stock, valued at approximately $553,000. This trade represents a 62.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
SiTime Price Performance
Shares of SITM opened at $706.98 on Friday. SiTime Corporation has a 1-year low of $186.49 and a 1-year high of $901.81. The stock has a market cap of $18.66 billion, a PE ratio of -699.98 and a beta of 2.94. The firm has a fifty day moving average price of $577.29 and a 200 day moving average price of $435.37.
SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $113.57 million during the quarter, compared to analysts' expectations of $103.51 million. During the same period in the previous year, the company earned $0.26 earnings per share. 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 fiscal year.
Institutional Investors Weigh In On SiTime
A number of institutional investors and hedge funds have recently made changes to their positions in SITM. Rakuten Securities Inc. raised its holdings 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. increased its stake 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 acquiring an additional 59 shares during the period. Optiver Holding B.V. increased its stake 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 acquiring an additional 32 shares during the period. Parallel Advisors LLC increased its stake 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 acquiring an additional 16 shares during the period. Finally, Larson Financial Group LLC increased its stake 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 acquiring an additional 96 shares during the period. 84.31% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on SITM shares. Stifel Nicolaus boosted their price target on shares of SiTime from $450.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Zacks Research raised shares of SiTime from a "hold" rating to a "strong-buy" rating in a report on Friday, May 15th. Needham & Company LLC upped their target price on shares of SiTime from $450.00 to $850.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Roth Mkm reaffirmed a "buy" rating and issued a $900.00 target price on shares of SiTime in a report on Thursday, May 7th. Finally, UBS Group upped their target price on shares of SiTime from $675.00 to $775.00 and gave the company a "buy" rating in a report on Thursday, May 7th. One equities research 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $661.88.
View Our Latest Report on SITM
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.
Further Reading
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