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

SiTime Co. (NASDAQ:SITM) insider Samsheer Ahamad sold 7,728 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were 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 directly owns 78,095 shares of the company’s stock, valued at $16,197,683.95. The trade was a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

SiTime Price Performance

Shares of NASDAQ SITM opened at $201.12 on Thursday. The company has a 50-day simple moving average of $160.54 and a 200-day simple moving average of $190.94. The company has a market cap of $4.77 billion, a PE ratio of -49.66 and a beta of 2.24. SiTime Co. has a 12 month low of $105.40 and a 12 month high of $268.18.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.11 by $0.15. The firm had revenue of $60.31 million during the quarter, compared to analysts’ expectations of $54.01 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. SiTime’s revenue for the quarter was up 82.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) EPS. On average, analysts anticipate that SiTime Co. will post -2.44 EPS for the current year.

Institutional Investors Weigh In On SiTime

A number of hedge funds and other institutional investors have recently made changes to their positions in SITM. Intech Investment Management LLC increased its stake in SiTime by 21.6% in the first quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock valued at $1,272,000 after purchasing an additional 1,477 shares during the last quarter. Fred Alger Management LLC grew its holdings in SiTime by 45.5% in the 1st quarter. Fred Alger Management LLC now owns 128,525 shares of the company’s stock valued at $19,648,000 after buying an additional 40,220 shares during the period. Polar Asset Management Partners Inc. increased its stake in shares of SiTime by 118.5% during the 1st quarter. Polar Asset Management Partners Inc. now owns 48,076 shares of the company’s stock valued at $7,349,000 after acquiring an additional 26,076 shares during the last quarter. KADENSA CAPITAL Ltd acquired a new position in shares of SiTime during the 1st quarter valued at about $1,430,000. Finally, Eventide Asset Management LLC lifted its holdings in shares of SiTime by 5,015.9% during the 1st quarter. Eventide Asset Management LLC now owns 166,214 shares of the company’s stock worth $25,408,000 after acquiring an additional 162,965 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

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

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.