SiTime Co. (NASDAQ:SITM) Director Torsten Kreindl Sells 6,000 Shares of Stock

SiTime Co. (NASDAQ:SITM) Director Torsten Kreindl sold 6,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $220.86, for a total value of $1,325,160.00. Following the completion of the transaction, the director now owns 13,511 shares in the company, valued at approximately $2,984,039.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

SiTime Stock Performance

Shares of NASDAQ SITM opened at $206.78 on Wednesday. The firm has a 50 day moving average price of $170.57 and a 200 day moving average price of $143.17. The stock has a market cap of $4.78 billion, a P/E ratio of -49.95 and a beta of 1.83. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $228.12.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The business had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The firm’s quarterly revenue was up 62.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.81) EPS. Analysts predict that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SITM has been the topic of several recent research reports. Stifel Nicolaus raised their target price on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Barclays raised their price objective on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Roth Mkm upped their target price on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC raised their price target on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Institutional Investors Weigh In On SiTime

A number of hedge funds have recently modified their holdings of SITM. Driehaus Capital Management LLC bought a new stake in SiTime during the 2nd quarter worth approximately $16,831,000. Vanguard Group Inc. raised its holdings in shares of SiTime by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after acquiring an additional 85,800 shares during the period. William Blair Investment Management LLC lifted its position in SiTime by 62.0% in the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after acquiring an additional 79,648 shares in the last quarter. F M Investments LLC acquired a new position in SiTime in the 2nd quarter worth $8,909,000. Finally, LMR Partners LLP increased its holdings in SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after purchasing an additional 70,500 shares in the last quarter. Institutional investors and hedge funds 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.