SiTime (NASDAQ:SITM) Director Akira Takata Sells 1,500 Shares of Stock

SiTime Corporation (NASDAQ:SITM) Director Akira Takata sold 1,500 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the sale, the director owned 12,234 shares of the company’s stock, valued at approximately $10,531,761.24. This trade represents a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

SiTime Trading Down 1.8%

NASDAQ:SITM opened at $820.21 on Friday. The stock has a market capitalization of $21.65 billion, a price-to-earnings ratio of -812.09 and a beta of 2.91. The firm has a fifty day simple moving average of $466.05 and a two-hundred day simple moving average of $390.70. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. The business had revenue of $113.57 million during the quarter, compared to analysts’ expectations of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The business’s quarterly revenue was up 88.3% on a year-over-year basis. During the same period last year, the company posted $0.26 earnings per share. Equities analysts predict that SiTime Corporation will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SITM. Rakuten Securities Inc. lifted its position in shares of SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Optiver Holding B.V. lifted its position in shares of SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after purchasing an additional 32 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of SiTime by 26.2% during the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock valued at $27,000 after purchasing an additional 16 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of SiTime by 3,200.0% during the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 96 shares in the last quarter. 84.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group upped their target price on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Needham & Company LLC lifted their price objective on shares of SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. Barclays upgraded shares of SiTime from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $400.00 to $850.00 in a 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 company a “buy” rating in a report on Thursday, April 16th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $661.88.

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.