Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells 4,000 Shares of Stock

SiTime Co. (NASDAQ:SITM) insider Samsheer Ahamad sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $172.73, for a total transaction of $690,920.00. Following the transaction, the insider now directly owns 78,979 shares of the company’s stock, valued at $13,642,042.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

SiTime Stock Performance

Shares of NASDAQ SITM opened at $177.16 on Wednesday. The firm’s 50 day moving average price is $164.95 and its 200-day moving average price is $139.31. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $188.98. The company has a market cap of $4.10 billion, a PE ratio of -43.00 and a beta of 1.83.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.08. The business had revenue of $43.90 million for the quarter, compared to analysts’ expectations of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The firm’s quarterly revenue was up 58.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.17) EPS. On average, analysts forecast that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SITM has been the topic of several recent research reports. Barclays downgraded SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a research note on Tuesday, August 27th. Stifel Nicolaus increased their target price on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Signaturefd LLC boosted its position in shares of SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in SiTime by 59.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares during the period. GAMMA Investing LLC boosted its holdings in shares of SiTime by 281.0% during the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after acquiring an additional 281 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of SiTime in the second quarter worth approximately $49,000. Finally, Bessemer Group Inc. raised its holdings in shares of SiTime by 70.1% during the first quarter. Bessemer Group Inc. now owns 1,213 shares of the company’s stock valued at $113,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

About SiTime

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.