SiTime Corporation (NASDAQ:SITM - Get Free Report) Director Raman Chitkara sold 2,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $727.38, for a total transaction of $1,454,760.00. Following the sale, the director directly owned 19,898 shares of the company's stock, valued at approximately $14,473,407.24. The trade was a 9.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
SiTime Stock Up 1.7%
Shares of SiTime stock opened at $742.46 on Tuesday. The firm has a market capitalization of $19.60 billion, a P/E ratio of -735.11 and a beta of 2.94. The company has a 50 day moving average price of $625.95 and a 200 day moving average price of $455.98. SiTime Corporation has a 52 week low of $186.49 and a 52 week high of $901.81.
SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.14 by $0.30. The firm had revenue of $113.57 million during the quarter, compared to analyst estimates of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. SiTime's revenue was up 88.3% on a year-over-year basis. During the same period last year, the firm posted $0.26 EPS. As a group, research analysts anticipate that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on SITM. Stifel Nicolaus increased their price target on shares of SiTime from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Zacks Research upgraded shares of SiTime from a "hold" rating to a "strong-buy" rating in a report on Friday, May 15th. Barclays upgraded shares of SiTime from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $400.00 to $850.00 in a report on Thursday, May 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of SiTime in a report on Tuesday, April 21st. Finally, Roth Mkm reiterated a "buy" rating and issued a $900.00 price target on shares of SiTime in a report on Thursday, May 7th. 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $661.88.
View Our Latest Research Report on SITM
Institutional Investors Weigh In On SiTime
Hedge funds and other institutional investors have recently made changes to their positions in the company. Rakuten Securities Inc. grew its stake in shares of SiTime by 188.5% during the 4th 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. grew its stake in shares of SiTime by 190.3% during the 3rd 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. grew its stake in shares of SiTime by 56.1% during the 3rd 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 grew its stake in shares of SiTime by 26.2% during the 1st 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 grew its stake 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 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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