SiTime Co. (NASDAQ:SITM) Insider Piyush B. Sevalia Sells 1,338 Shares

SiTime Co. (NASDAQ:SITM) insider Piyush B. Sevalia sold 1,338 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $180.00, for a total value of $240,840.00. Following the sale, the insider now directly owns 86,196 shares of the company’s stock, valued at $15,515,280. The transaction was disclosed in a document filed with the SEC, which is available through this link.

SiTime Stock Performance

Shares of SITM opened at $168.25 on Wednesday. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of -40.74 and a beta of 1.82. The business’s fifty day moving average price is $142.61 and its two-hundred day moving average price is $123.07. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $181.00.

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

Institutional Investors Weigh In On SiTime

A number of institutional investors have recently made changes to their positions in SITM. Norges Bank acquired a new stake in shares of SiTime during the fourth quarter worth $12,662,000. Alberta Investment Management Corp grew its stake in shares of SiTime by 5.8% during the fourth quarter. Alberta Investment Management Corp now owns 11,799 shares of the company’s stock worth $1,440,000 after purchasing an additional 648 shares during the period. S Squared Technology LLC grew its stake in shares of SiTime by 6.7% during the fourth quarter. S Squared Technology LLC now owns 80,046 shares of the company’s stock worth $9,772,000 after purchasing an additional 5,000 shares during the period. Ghisallo Capital Management LLC acquired a new stake in shares of SiTime during the fourth quarter worth $2,495,000. Finally, Wasatch Advisors LP grew its stake in shares of SiTime by 2.9% during the fourth quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock worth $108,908,000 after purchasing an additional 25,324 shares during the period. 84.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in 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 report on Tuesday, August 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of SiTime in a report on Tuesday, June 25th. Finally, Stifel Nicolaus raised their price target on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 18th.

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.