SiTime Co. (NASDAQ:SITM) EVP Sells $285,000.00 in Stock

SiTime Co. (NASDAQ:SITMGet Rating) EVP Piyush B. Sevalia sold 2,375 shares of the firm’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $120.00, for a total transaction of $285,000.00. Following the transaction, the executive vice president now owns 91,673 shares in the company, valued at approximately $11,000,760. The transaction was disclosed in a document filed with the SEC, which is available at this link.

SiTime Stock Performance

Shares of SiTime stock traded down $0.91 during trading on Wednesday, reaching $118.08. The company’s stock had a trading volume of 242,902 shares, compared to its average volume of 238,150. SiTime Co. has a one year low of $73.10 and a one year high of $270.92. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 59.04 and a beta of 1.90. The business’s fifty day moving average price is $104.05 and its 200-day moving average price is $109.84.

SiTime (NASDAQ:SITMGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.02). SiTime had a return on equity of 6.71% and a net margin of 14.95%. The business had revenue of $73.10 million during the quarter, compared to the consensus estimate of $73.03 million. Sell-side analysts anticipate that SiTime Co. will post 1.04 EPS for the current year.

Hedge Funds Weigh In On SiTime

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC boosted its holdings in SiTime by 517.6% in the 3rd quarter. CWM LLC now owns 315 shares of the company’s stock valued at $25,000 after purchasing an additional 264 shares during the period. Cutler Group LLC CA increased its holdings in shares of SiTime by 172.4% during the 3rd quarter. Cutler Group LLC CA now owns 362 shares of the company’s stock worth $28,000 after purchasing an additional 862 shares during the period. Amundi acquired a new position in shares of SiTime during the second quarter valued at about $47,000. FourThought Financial LLC lifted its stake in shares of SiTime by 34.3% in the third quarter. FourThought Financial LLC now owns 658 shares of the company’s stock valued at $52,000 after buying an additional 168 shares during the period. Finally, Covestor Ltd grew its position in SiTime by 14,500.0% during the first quarter. Covestor Ltd now owns 438 shares of the company’s stock worth $109,000 after buying an additional 435 shares in the last quarter. Institutional investors own 74.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SITM shares. Raymond James cut their target price on SiTime from $240.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. Needham & Company LLC cut their price objective on SiTime from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, November 3rd. Credit Suisse Group began coverage on SiTime in a report on Tuesday, November 15th. They issued an “outperform” rating and a $135.00 target price for the company. TheStreet upgraded SiTime from a “d+” rating to a “c” rating in a report on Monday, November 21st. Finally, Barclays boosted their price objective on shares of SiTime from $96.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $122.50.

About SiTime

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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.

Further Reading

Insider Buying and Selling by Quarter for SiTime (NASDAQ:SITM)

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