SiTime (NASDAQ:SITM) Director Akira Takata Sells 3,500 Shares

SiTime Corporation (NASDAQ:SITM) Director Akira Takata sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $431.73, for a total transaction of $1,511,055.00. Following the sale, the director directly owned 13,734 shares of the company’s stock, valued at approximately $5,929,379.82. This trade represents a 20.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

SiTime Price Performance

Shares of NASDAQ:SITM opened at $413.76 on Wednesday. SiTime Corporation has a 1 year low of $105.40 and a 1 year high of $440.00. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of -227.34 and a beta of 2.51. The company’s 50 day simple moving average is $364.41 and its 200 day simple moving average is $300.08.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The firm had revenue of $113.28 million during the quarter, compared to analysts’ expectations of $101.91 million. During the same period in the prior year, the company earned $0.48 earnings per share. The company’s quarterly revenue was up 66.3% on a year-over-year basis. As a group, analysts anticipate that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. increased its position in SiTime by 188.5% in the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 49 shares during the period. Hantz Financial Services Inc. increased its holdings in SiTime by 190.3% in 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 during the period. Optiver Holding B.V. raised its position in SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after purchasing an additional 32 shares during the last quarter. Larson Financial Group LLC raised its position in SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 96 shares during the last quarter. Finally, Danske Bank A S acquired a new position in SiTime during the 4th quarter worth about $35,000. Institutional investors own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

SITM has been the topic of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on SiTime in a research report on Monday, December 15th. They issued a “buy” rating and a $420.00 target price on the stock. Roth Mkm restated a “buy” rating and issued a $450.00 price target on shares of SiTime in a research note on Thursday, February 5th. Raymond James Financial reiterated an “outperform” rating on shares of SiTime in a research report on Tuesday, December 2nd. Needham & Company LLC increased their price objective on shares of SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Finally, Stifel Nicolaus set a $450.00 target price on shares of SiTime in a research report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $409.38.

SiTime Company Profile

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.