Vincent P. Pangrazio Sells 3,064 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) insider Vincent P. Pangrazio sold 3,064 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $255.00, for a total value of $781,320.00. Following the completion of the transaction, the insider now owns 65,978 shares of the company’s stock, valued at approximately $16,824,390. This represents a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

SiTime Stock Performance

Shares of SiTime stock opened at $248.46 on Wednesday. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $268.18. The firm’s 50-day simple moving average is $203.99 and its 200-day simple moving average is $162.88. The firm has a market cap of $5.80 billion, a PE ratio of -60.01 and a beta of 1.86.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. The firm had revenue of $57.70 million for the quarter, compared to analysts’ expectations of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. SiTime’s revenue for the quarter was up 62.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.81) earnings per share. On average, equities analysts predict that SiTime Co. will post -2.98 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On SiTime

Large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in shares of SiTime during the third quarter worth $166,000. Virtu Financial LLC acquired a new stake in SiTime during the third quarter worth about $204,000. Geode Capital Management LLC lifted its holdings in SiTime by 3.7% in the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock worth $75,637,000 after acquiring an additional 15,759 shares during the last quarter. Barclays PLC boosted its stake in SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after acquiring an additional 16,964 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in SiTime by 6.1% in the third quarter. Public Employees Retirement System of Ohio now owns 17,960 shares of the company’s stock valued at $3,080,000 after acquiring an additional 1,039 shares during the period. 84.31% of the stock is currently owned by institutional investors.

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.