SiTime (NASDAQ:SITM) Director Torsten Kreindl Sells 710 Shares of Stock

SiTime Corporation (NASDAQ:SITM) Director Torsten Kreindl sold 710 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $720.00, for a total value of $511,200.00. Following the completion of the transaction, the director owned 13,141 shares of the company’s stock, valued at $9,461,520. The trade was a 5.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

SiTime Trading Up 2.4%

Shares of NASDAQ SITM opened at $728.56 on Friday. The business has a fifty day simple moving average of $510.07 and a 200 day simple moving average of $408.52. The firm has a market capitalization of $19.23 billion, a price-to-earnings ratio of -721.35 and a beta of 2.91. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.30. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.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 prior year, the business posted $0.26 earnings per share. The business’s revenue was up 88.3% compared to the same quarter last year. On average, research analysts anticipate that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

Institutional Trading of SiTime

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of SiTime by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock worth $997,904,000 after purchasing an additional 61,336 shares during the last quarter. Invesco Ltd. grew its holdings in shares of SiTime by 1.8% during the third quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock worth $312,550,000 after purchasing an additional 18,165 shares during the last quarter. State Street Corp grew its holdings in shares of SiTime by 3.7% during the second quarter. State Street Corp now owns 911,280 shares of the company’s stock worth $194,176,000 after purchasing an additional 32,178 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after purchasing an additional 132,948 shares during the last quarter. Finally, Whale Rock Capital Management LLC grew its holdings in shares of SiTime by 45.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock worth $246,717,000 after purchasing an additional 218,038 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Analyst Ratings Changes

SITM has been the topic of a number of analyst reports. Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Barclays upgraded SiTime from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $400.00 to $850.00 in a research report on Thursday, May 7th. Stifel Nicolaus upped their price target on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Needham & Company LLC upped their price target on SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $800.00 price target on shares of SiTime in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.