SiTime (NASDAQ:SITM) Insider Sells $4,017,377.00 in Stock

SiTime Corporation (NASDAQ:SITM) insider Samsheer Ahamad sold 9,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $441.47, for a total value of $4,017,377.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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 SITM traded down $13.08 during mid-day trading on Thursday, reaching $423.20. The stock had a trading volume of 383,299 shares, compared to its average volume of 351,941. The business has a fifty day moving average of $367.66 and a 200 day moving average of $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 earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. The company had revenue of $113.29 million for the quarter, compared to analysts’ expectations of $101.91 million. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. SiTime’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 EPS. Equities analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of SiTime

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

Analyst Ratings Changes

Several research firms have weighed in on SITM. The Goldman Sachs Group started coverage on SiTime in a research note on Monday, December 15th. They issued a “buy” rating and a $420.00 price target for the company. Raymond James Financial restated an “outperform” rating on shares of SiTime in a research report on Tuesday, December 2nd. Needham & Company LLC raised their target price on shares of SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Stifel Nicolaus set a $450.00 price target on shares of SiTime in a report on Thursday, February 5th. Finally, Roth Mkm reissued a “buy” rating and set a $450.00 price objective on shares of SiTime in a report on Thursday, February 5th. Seven 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 currently has an average rating of “Moderate Buy” and a consensus target price 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.