SiTime Co. (NASDAQ:SITM) EVP Sells $887,606.20 in Stock

SiTime Co. (NASDAQ:SITM) EVP Piyush B. Sevalia sold 6,331 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $140.20, for a total value of $887,606.20. Following the transaction, the executive vice president now owns 83,293 shares of the company’s stock, valued at $11,677,678.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

SiTime Trading Up 1.4 %

NASDAQ SITM opened at $155.15 on Friday. The stock has a market cap of $3.55 billion, a PE ratio of -37.78 and a beta of 1.82. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $160.14. The stock has a fifty day simple moving average of $122.69 and a 200-day simple moving average of $108.60.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, May 8th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.17). SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. The firm had revenue of $33.02 million for the quarter, compared to analysts’ expectations of $32.02 million. Research analysts predict that SiTime Co. will post -2.66 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of SiTime in a report on Tuesday, June 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.00.

Hedge Funds Weigh In On SiTime

A number of hedge funds and other institutional investors have recently bought and sold shares of SITM. Envestnet Asset Management Inc. boosted its holdings in SiTime by 74.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 28,325 shares of the company’s stock valued at $3,236,000 after acquiring an additional 12,110 shares during the period. Northern Trust Corp boosted its holdings in SiTime by 2.0% during the 3rd quarter. Northern Trust Corp now owns 178,638 shares of the company’s stock valued at $20,409,000 after acquiring an additional 3,514 shares during the period. GSA Capital Partners LLP boosted its stake in shares of SiTime by 212.0% in the 3rd quarter. GSA Capital Partners LLP now owns 7,272 shares of the company’s stock valued at $831,000 after buying an additional 4,941 shares during the period. Vanguard Group Inc. boosted its stake in shares of SiTime by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock valued at $236,110,000 after buying an additional 58,629 shares during the period. Finally, Legato Capital Management LLC purchased a new position in shares of SiTime in the 4th quarter valued at about $237,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

SiTime Company Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.