Christine Heckart Sells 1,290 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) Director Christine Heckart sold 1,290 shares of SiTime stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $700.00, for a total transaction of $903,000.00. Following the transaction, the director owned 790 shares in the company, valued at approximately $553,000. The trade was a 62.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

SiTime Stock Performance

NASDAQ SITM opened at $625.68 on Friday. SiTime Corporation has a twelve month low of $186.49 and a twelve month high of $901.81. The stock has a market cap of $16.52 billion, a price-to-earnings ratio of -619.49 and a beta of 2.94. The firm’s 50 day moving average price is $582.71 and its two-hundred day moving average price is $436.70.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.30. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The firm had revenue of $113.57 million for the quarter, compared to analysts’ expectations of $103.51 million. During the same period in the previous year, the company posted $0.26 EPS. The company’s quarterly revenue was up 88.3% compared to the same quarter last year. On average, research analysts forecast that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on SITM. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. UBS Group lifted their price objective on shares of SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Barclays upgraded shares of SiTime from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $400.00 to $850.00 in a research report on Thursday, May 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $800.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Finally, Stifel Nicolaus lifted their price objective on shares of SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $661.88.

Institutional Investors Weigh In On SiTime

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its stake in shares of SiTime by 3.9% during the 4th quarter. Principal Financial Group Inc. now owns 363,953 shares of the company’s stock valued at $128,545,000 after buying an additional 13,577 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in shares of SiTime by 145.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,215 shares of the company’s stock valued at $3,681,000 after buying an additional 7,247 shares during the period. Cibc World Market Inc. acquired a new stake in shares of SiTime during the 3rd quarter valued at $2,259,000. Royce & Associates LP boosted its stake in shares of SiTime by 95.0% during the 3rd quarter. Royce & Associates LP now owns 54,476 shares of the company’s stock valued at $16,414,000 after buying an additional 26,538 shares during the period. Finally, HighTower Advisors LLC boosted its stake in shares of SiTime by 95.8% during the 3rd quarter. HighTower Advisors LLC now owns 30,368 shares of the company’s stock valued at $9,151,000 after buying an additional 14,859 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

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.