SiTime Co. (NASDAQ:SITM) Insider Vincent P. Pangrazio Sells 3,064 Shares

SiTime Co. (NASDAQ:SITM) insider Vincent P. Pangrazio sold 3,064 shares of SiTime stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $255.00, for a total value of $781,320.00. Following the transaction, the insider now directly owns 65,978 shares of the company’s stock, valued at approximately $16,824,390. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

SiTime Trading Down 2.2 %

Shares of SITM traded down $5.51 during trading hours on Monday, hitting $247.11. 273,132 shares of the stock traded hands, compared to its average volume of 205,972. The firm has a market capitalization of $5.77 billion, a PE ratio of -58.96 and a beta of 1.86. The business has a fifty day moving average of $201.30 and a 200-day moving average of $161.14. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The business had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The firm’s quarterly revenue was up 62.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.81) earnings per share. As a group, equities research analysts expect that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Institutional Trading of SiTime

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of SiTime by 1.1% in the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $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 worth $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% during the 3rd 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 period. Geode Capital Management LLC lifted its stake in SiTime by 3.7% in the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock valued at $75,637,000 after buying an additional 15,759 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of SiTime by 62.0% in 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 period. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.