SiTime (NASDAQ:SITM) Posts Earnings Results, Beats Estimates By $0.07 EPS


Share on StockTwits

SiTime (NASDAQ:SITM) issued its quarterly earnings results on Tuesday. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.12 by $0.07, MarketWatch Earnings reports. The company had revenue of $35.54 million during the quarter, compared to analysts’ expectations of $33.00 million. SiTime’s revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS.

SiTime stock traded down $4.54 during mid-day trading on Tuesday, hitting $85.98. The company’s stock had a trading volume of 271,319 shares, compared to its average volume of 225,134. The firm has a market capitalization of $1.62 billion, a PE ratio of -124.61 and a beta of 0.75. SiTime has a 1 year low of $22.04 and a 1 year high of $151.78. The stock’s fifty day moving average is $100.24 and its two-hundred day moving average is $106.66.

Several analysts have recently issued reports on SITM shares. Needham & Company LLC lifted their target price on shares of SiTime from $105.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. Raymond James boosted their price objective on SiTime from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, February 4th. Zacks Investment Research downgraded SiTime from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 21st. Barclays lifted their price target on SiTime from $100.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 26th. They noted that the move was a valuation call. Finally, Roth Capital increased their price objective on SiTime from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $124.67.

In related news, CEO Rajesh Vashist sold 3,000 shares of SiTime stock in a transaction that occurred on Wednesday, April 21st. The shares were sold at an average price of $92.13, for a total value of $276,390.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Arthur D. Chadwick sold 2,450 shares of SiTime stock in a transaction on Monday, February 22nd. The shares were sold at an average price of $113.61, for a total value of $278,344.50. Following the completion of the transaction, the chief financial officer now owns 99,227 shares of the company’s stock, valued at $11,273,179.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,988 shares of company stock valued at $1,647,683. Company insiders own 0.80% of the company’s stock.

About SiTime

SiTime Corporation provides silicon timing systems in Taiwan, Hong Kong, the United States, and internationally. It provides resonators and clock integrated circuits, and various types of oscillators. The company's solutions are used in various markets, including enterprise and telecommunications infrastructure, automotive, industrial, Internet of Things, mobile, and aerospace and defense.

See Also: What is a stock portfolio tracker?

Earnings History for SiTime (NASDAQ:SITM)

Receive News & Ratings for SiTime Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SiTime and related companies with MarketBeat.com's FREE daily email newsletter.