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

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

Specifically, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $204.42, for a total value of $205,033.26. Following the completion of the sale, the insider now directly owns 99,678 shares in the company, valued at $20,376,176.76. This represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

SITM has been the subject of a number of recent research reports. Barclays increased their target price 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. Raymond James reiterated an “outperform” rating and issued a $250.00 target price (up from $215.00) on shares of SiTime in a research report on Thursday. Stifel Nicolaus increased their target price on shares of SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC raised their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Roth Mkm raised their price objective on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $232.00.

SiTime Stock Up 2.0 %

The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of -43.45 and a beta of 1.80. The business’s 50-day simple moving average is $227.99 and its two-hundred day simple moving average is $186.39.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The business had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. During the same period last year, the business earned ($0.81) earnings per share. The business’s revenue for the quarter was up 62.4% on a year-over-year basis. Sell-side analysts anticipate that SiTime Co. will post -2.98 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC boosted its stake in shares of SiTime by 67.4% in the third 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. boosted its stake in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after purchasing an additional 67 shares during the period. Smartleaf Asset Management LLC lifted its stake in SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after acquiring an additional 206 shares during the last quarter. AlphaQuest LLC lifted its stake in SiTime by 8,460.0% in the fourth quarter. AlphaQuest LLC now owns 428 shares of the company’s stock worth $92,000 after acquiring an additional 423 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in SiTime in the fourth quarter worth approximately $140,000. Hedge funds and other 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.