Samsheer Ahamad Sells 9,100 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) insider Samsheer Ahamad sold 9,100 shares of SiTime stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $441.47, for a total value of $4,017,377.00. Following the sale, the insider owned 52,938 shares of the company’s stock, valued at approximately $23,370,538.86. This trade represents a 14.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Samsheer Ahamad also recently made the following trade(s):

• On Monday, December 1st, Samsheer Ahamad sold 4,000 shares of SiTime stock. The stock was sold at an average price of $291.10, for a total transaction of $1,164,400.00.

SiTime Stock Performance

Shares of NASDAQ:SITM traded down $13.08 during trading on Thursday, reaching $423.20. 383,299 shares of the company were exchanged, compared to its average volume of 351,941. The business’s fifty day simple moving average is $367.66 and its 200-day simple moving average is $301.88. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $446.96.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. The company had revenue of $113.29 million during the quarter, compared to analyst estimates of $101.91 million. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The firm’s revenue for the quarter was up 66.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 earnings per share. As a group, equities analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its holdings in shares of SiTime by 29.7% during the 4th quarter. Advisors Asset Management Inc. now owns 695 shares of the company’s stock valued at $245,000 after purchasing an additional 159 shares in the last quarter. Hollencrest Capital Management boosted its holdings in SiTime by 952.2% during the fourth quarter. Hollencrest Capital Management now owns 705 shares of the company’s stock worth $249,000 after buying an additional 638 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its position in SiTime by 1,170.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,842 shares of the company’s stock valued at $651,000 after buying an additional 1,697 shares during the period. HRT Financial LP purchased a new position in SiTime in the fourth quarter valued at $1,292,000. Finally, Cibc World Markets Corp acquired a new position in shares of SiTime in the fourth quarter worth about $504,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SITM has been the topic of several research analyst reports. Roth Mkm reissued a “buy” rating and set a $450.00 target price on shares of SiTime in a research report on Thursday, February 5th. Barclays set a $400.00 price objective on shares of SiTime in a report on Thursday, February 5th. Needham & Company LLC raised their target price on SiTime from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Stifel Nicolaus set a $450.00 price target on SiTime in a research report on Thursday, February 5th. Finally, The Goldman Sachs Group began coverage on SiTime in a report on Monday, December 15th. They issued a “buy” rating and a $420.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $409.38.

About SiTime

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.