Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells 1,338 Shares of Stock

SiTime Co. (NASDAQ:SITM) insider Piyush B. Sevalia sold 1,338 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $180.00, for a total transaction of $240,840.00. Following the completion of the sale, the insider now owns 86,196 shares in the company, valued at $15,515,280. The transaction was disclosed in a filing with the SEC, which is available through this link.

SiTime Stock Down 1.9 %

SITM stock traded down $3.26 during trading on Tuesday, reaching $168.25. The stock had a trading volume of 157,184 shares, compared to its average volume of 210,451. The stock’s 50 day moving average is $142.36 and its two-hundred day moving average is $122.48. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $181.00.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SITM. Stifel Nicolaus lifted their price target on SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Needham & Company LLC reissued a “buy” rating and issued a $130.00 price target on shares of SiTime in a research note on Tuesday, June 25th. Finally, Barclays downgraded shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price on the stock. in a research report on Tuesday, August 27th.

Institutional Investors Weigh In On SiTime

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Driehaus Capital Management LLC bought a new stake in SiTime in the 2nd quarter worth approximately $16,831,000. Norges Bank purchased a new stake in SiTime during the fourth quarter valued at $12,662,000. Vanguard Group Inc. grew its stake in shares of SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after buying an additional 85,800 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of SiTime by 62.0% during the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after buying an additional 79,648 shares in the last quarter. Finally, F M Investments LLC purchased a new stake in shares of SiTime during the 2nd quarter valued at about $8,909,000. 84.31% of the stock is owned by institutional investors.

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.