SiTime Co. (NASDAQ:SITM) Director Raman Chitkara Sells 500 Shares

SiTime Co. (NASDAQ:SITM) Director Raman Chitkara sold 500 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $265.00, for a total value of $132,500.00. Following the transaction, the director now owns 20,719 shares of the company’s stock, valued at approximately $5,490,535. This represents a 2.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SiTime Price Performance

Shares of SiTime stock opened at $247.11 on Tuesday. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $268.18. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of -59.69 and a beta of 1.86. The company has a 50-day moving average of $202.64 and a 200 day moving average of $161.99.

SiTime (NASDAQ:SITM) last announced its 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 the consensus estimate of $55.10 million. During the same quarter last year, the firm earned ($0.81) earnings per share. The business’s revenue for the quarter was up 62.4% on a year-over-year basis. On average, equities analysts anticipate that SiTime Co. will post -2.98 EPS for the current year.

Analyst Ratings Changes

SITM has been the subject of several research reports. Barclays upped their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Stifel Nicolaus increased their price target on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Roth Mkm lifted their price objective on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC increased their target price on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SITM. FMR LLC increased its holdings in shares of SiTime by 1.1% during the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock valued at $595,113,000 after acquiring an additional 39,119 shares in the last quarter. State Street Corp increased its stake in SiTime by 3.1% during the 3rd quarter. State Street Corp now owns 922,974 shares of the company’s stock valued at $158,299,000 after purchasing an additional 27,692 shares in the last quarter. Principal Financial Group Inc. raised its holdings in SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after buying an additional 59,931 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of SiTime by 3.7% in the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock worth $75,637,000 after buying an additional 15,759 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of SiTime by 62.0% during the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after buying an additional 79,648 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

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.