SiTime Co. (NASDAQ:SITM) Director Sells $1,325,160.00 in Stock

SiTime Co. (NASDAQ:SITM) Director Torsten Kreindl sold 6,000 shares of SiTime stock in a transaction on Friday, November 8th. The shares were sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the completion of the sale, the director now owns 13,511 shares in the company, valued at approximately $2,984,039.46. This trade represents a 30.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SiTime Price Performance

Shares of SITM opened at $203.50 on Friday. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $228.12. The business’s 50 day moving average price is $173.36 and its 200-day moving average price is $144.41.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. During the same period in the previous year, the company posted ($0.81) earnings per share. The company’s revenue for the quarter was up 62.4% compared to the same quarter last year. On average, analysts forecast that SiTime Co. will post -2.96 EPS for the current year.

Hedge Funds Weigh In On SiTime

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SITM. Signaturefd LLC raised its stake in shares of SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of SiTime by 59.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of SiTime by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock worth $2,524,000 after acquiring an additional 94 shares during the period. American International Group Inc. raised its holdings in shares of SiTime by 1.2% during the first quarter. American International Group Inc. now owns 9,566 shares of the company’s stock valued at $892,000 after purchasing an additional 110 shares during the last quarter. Finally, Amalgamated Bank lifted its position in SiTime by 2.3% during the third quarter. Amalgamated Bank now owns 5,509 shares of the company’s stock valued at $945,000 after purchasing an additional 122 shares during the period. 84.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SITM. Needham & Company LLC boosted their price target on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays upped their target price on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Roth Mkm lifted their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus increased their price objective on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 17th.

SiTime Company Profile

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.