SiTime (SITM) Set to Announce Quarterly Earnings on Wednesday

SiTime (NASDAQ:SITM) is set to release its earnings data after the market closes on Wednesday, November 6th. Analysts expect SiTime to post earnings of $0.26 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

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. 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 during the quarter, compared to analysts’ expectations of $41.01 million. During the same period in the prior year, the company earned ($1.17) earnings per share. The firm’s revenue was up 58.5% on a year-over-year basis. On average, analysts expect SiTime to post $-3 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

SiTime Price Performance

Shares of SITM stock opened at $186.81 on Wednesday. The company has a market cap of $4.32 billion, a price-to-earnings ratio of -45.34 and a beta of 1.82. SiTime has a 1 year low of $72.39 and a 1 year high of $188.98. The firm has a fifty day moving average price of $161.77 and a 200-day moving average price of $135.87.

Insiders Place Their Bets

In related news, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total transaction of $150,591.15. Following the sale, the insider now owns 112,584 shares of the company’s stock, valued at approximately $15,654,805.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other SiTime news, insider Piyush B. Sevalia sold 1,338 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $180.00, for a total transaction of $240,840.00. Following the completion of the transaction, the insider now owns 86,196 shares of the company’s stock, valued at $15,515,280. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the completion of the sale, the insider now directly owns 112,584 shares in the company, valued at $15,654,805.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,464 shares of company stock worth $5,205,973. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays cut SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a research report on Tuesday, August 27th. Stifel Nicolaus increased their target price on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 17th.

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.