SiTime (NASDAQ:SITM) Stock Price Down 9.3% Following Insider Selling

SiTime Co. (NASDAQ:SITM)’s share price fell 9.3% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $195.39 and last traded at $202.33. 38,579 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 211,915 shares. The stock had previously closed at $222.99.

Specifically, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the transaction, the insider now owns 99,678 shares in the company, valued at approximately $20,376,176.76. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SITM shares. 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 note on Thursday, November 7th. Barclays upped their price objective on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Stifel Nicolaus lifted their target price on SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC increased their price target on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday. Finally, Raymond James restated an “outperform” rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research note on Thursday. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

SiTime Stock Performance

The firm has a 50 day moving average price of $228.56 and a two-hundred day moving average price of $186.46. The firm has a market capitalization of $4.12 billion, a P/E ratio of -42.59 and a beta of 1.80.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The firm had revenue of $57.70 million during the quarter, compared to analyst estimates of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business’s quarterly revenue was up 62.4% compared to the same quarter last year. During the same period last year, the company posted ($0.81) EPS. Equities research analysts forecast that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SiTime

Large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its stake in SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Blue Trust Inc. lifted its holdings in shares of SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after buying an additional 67 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after acquiring an additional 206 shares during the period. Van ECK Associates Corp acquired a new stake in shares of SiTime in the third quarter worth $123,000. Finally, GAMMA Investing LLC increased its position in SiTime by 95.0% during the third quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock worth $127,000 after acquiring an additional 362 shares during the period. Institutional investors own 84.31% of the company’s stock.

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.