Piyush B. Sevalia Sells 6,331 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) EVP Piyush B. Sevalia sold 6,331 shares of SiTime stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $140.20, for a total transaction of $887,606.20. Following the sale, the executive vice president now directly owns 83,293 shares in the company, valued at $11,677,678.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

SiTime Price Performance

Shares of NASDAQ SITM opened at $152.99 on Thursday. The company has a 50 day simple moving average of $121.38 and a 200 day simple moving average of $108.29. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $155.39. The firm has a market cap of $3.50 billion, a PE ratio of -37.04 and a beta of 1.82.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.17). SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. The business had revenue of $33.02 million for the quarter, compared to the consensus estimate of $32.02 million. As a group, research analysts anticipate that SiTime Co. will post -2.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Yousif Capital Management LLC raised its position in shares of SiTime by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 8,554 shares of the company’s stock worth $1,044,000 after acquiring an additional 95 shares during the last quarter. American International Group Inc. raised its holdings in SiTime by 1.2% during the 1st quarter. American International Group Inc. now owns 9,566 shares of the company’s stock worth $892,000 after purchasing an additional 110 shares during the last quarter. Nemes Rush Group LLC lifted its position in shares of SiTime by 26.9% in the 4th quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after purchasing an additional 115 shares during the period. Pursue Wealth Partners LLC boosted its stake in shares of SiTime by 0.6% in the 4th quarter. Pursue Wealth Partners LLC now owns 22,618 shares of the company’s stock valued at $2,761,000 after purchasing an additional 139 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of SiTime by 78.2% during the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after buying an additional 147 shares during the period. 84.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of SiTime in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

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.