SiTime Co. (NASDAQ:SITM) Insider Piyush B. Sevalia Sells 807 Shares

SiTime Co. (NASDAQ:SITM) insider Piyush B. Sevalia sold 807 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total transaction of $129,120.00. Following the completion of the sale, the insider now directly owns 87,534 shares of the company’s stock, valued at $14,005,440. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

SiTime Price Performance

SITM stock opened at $167.91 on Friday. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $170.71. The company’s 50 day simple moving average is $140.28 and its 200-day simple moving average is $118.38. The firm has a market capitalization of $3.88 billion, a P/E ratio of -40.66 and a beta of 1.82.

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

Institutional Investors Weigh In On SiTime

A number of large investors have recently made changes to their positions in SITM. Charles Schwab Investment Management Inc. raised its holdings in shares of SiTime by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 142,439 shares of the company’s stock valued at $17,389,000 after acquiring an additional 9,694 shares during the period. Dimensional Fund Advisors LP grew its position in SiTime by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock valued at $30,112,000 after purchasing an additional 35,491 shares in the last quarter. Quadrant Capital Group LLC grew its position in SiTime by 78.2% during the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock valued at $41,000 after purchasing an additional 147 shares in the last quarter. Norges Bank purchased a new position in SiTime during the fourth quarter valued at approximately $12,662,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in SiTime during the fourth quarter valued at approximately $202,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a research note on Tuesday, August 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of SiTime in a research note on Tuesday, June 25th. Finally, Stifel Nicolaus boosted their target price on shares of SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 18th.

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.