SiTime Co. (NASDAQ:SITM) Insider Samsheer Ahamad Sells 7,728 Shares

SiTime Co. (NASDAQ:SITM) insider Samsheer Ahamad sold 7,728 shares of SiTime stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $207.41, for a total value of $1,602,864.48. Following the completion of the transaction, the insider now owns 78,095 shares of the company’s stock, valued at approximately $16,197,683.95. This represents a 9.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

SiTime Price Performance

Shares of NASDAQ SITM opened at $204.03 on Friday. SiTime Co. has a 1 year low of $105.40 and a 1 year high of $268.18. The firm has a 50-day simple moving average of $161.21 and a two-hundred day simple moving average of $191.16. The company has a market cap of $4.84 billion, a P/E ratio of -50.38 and a beta of 2.24.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.15. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The firm had revenue of $60.31 million for the quarter, compared to the consensus estimate of $54.01 million. During the same period in the prior year, the business posted ($0.08) earnings per share. The company’s revenue for the quarter was up 82.7% on a year-over-year basis. As a group, equities research analysts expect that SiTime Co. will post -2.44 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on SITM. Barclays raised their price objective on SiTime from $110.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, May 8th. Stifel Nicolaus increased their price target on SiTime from $180.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Needham & Company LLC raised their price target on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Raymond James reiterated an “outperform” rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, SiTime has a consensus rating of “Moderate Buy” and an average target price of $215.00.

Hedge Funds Weigh In On SiTime

Several hedge funds have recently bought and sold shares of SITM. Intech Investment Management LLC lifted its position in shares of SiTime by 21.6% during the first quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock worth $1,272,000 after purchasing an additional 1,477 shares during the last quarter. Fred Alger Management LLC grew its holdings in shares of SiTime by 45.5% in the first quarter. Fred Alger Management LLC now owns 128,525 shares of the company’s stock worth $19,648,000 after purchasing an additional 40,220 shares during the last quarter. Polar Asset Management Partners Inc. increased its stake in SiTime by 118.5% in the 1st quarter. Polar Asset Management Partners Inc. now owns 48,076 shares of the company’s stock worth $7,349,000 after buying an additional 26,076 shares during the period. KADENSA CAPITAL Ltd bought a new stake in SiTime during the 1st quarter valued at about $1,430,000. Finally, Eventide Asset Management LLC lifted its holdings in SiTime by 5,015.9% during the 1st quarter. Eventide Asset Management LLC now owns 166,214 shares of the company’s stock valued at $25,408,000 after buying an additional 162,965 shares in the last quarter. 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.