SiTime (NASDAQ:SITM) Announces Quarterly Earnings Results, Beats Estimates By $0.18 EPS

SiTime (NASDAQ:SITMGet Rating) announced its earnings results on Wednesday. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.76 by $0.18, MarketWatch Earnings reports. The firm had revenue of $70.25 million for the quarter, compared to the consensus estimate of $65.00 million. SiTime had a net margin of 14.75% and a return on equity of 8.29%. The business’s quarterly revenue was up 97.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.20) EPS.

NASDAQ:SITM opened at $192.01 on Thursday. The firm’s 50-day moving average is $203.08 and its 200-day moving average is $232.89. SiTime has a 52-week low of $75.81 and a 52-week high of $341.77. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 131.51, a PEG ratio of 6.01 and a beta of 1.51.

Several brokerages recently commented on SITM. Zacks Investment Research upgraded shares of SiTime from a “sell” rating to a “hold” rating in a report on Wednesday, February 9th. TheStreet downgraded shares of SiTime from a “c-” rating to a “d” rating in a report on Wednesday, April 27th. Finally, Needham & Company LLC dropped their target price on shares of SiTime from $330.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, February 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, SiTime presently has an average rating of “Buy” and a consensus price target of $301.83.

In other news, CFO Arthur D. Chadwick sold 4,311 shares of SiTime stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $182.15, for a total transaction of $785,248.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Fariborz Assaderaghi sold 2,804 shares of SiTime stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $181.72, for a total transaction of $509,542.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,014 shares of company stock worth $8,728,801. Insiders own 0.80% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of SiTime by 548.6% during the 2nd quarter. Royal Bank of Canada now owns 1,135 shares of the company’s stock valued at $143,000 after acquiring an additional 960 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in SiTime in the fourth quarter valued at about $146,000. Mackenzie Financial Corp acquired a new position in SiTime in the fourth quarter valued at about $219,000. Janus Henderson Group PLC acquired a new position in SiTime in the third quarter valued at about $249,000. Finally, LPL Financial LLC acquired a new position in SiTime in the third quarter valued at about $289,000. Institutional investors and hedge funds own 62.79% of the company’s stock.

About SiTime (Get Rating)

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

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Earnings History for SiTime (NASDAQ:SITM)

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