SiTime (NASDAQ:SITM) Insider Samsheer Ahamad Sells 6,000 Shares of Stock

SiTime Corporation (NASDAQ:SITM) insider Samsheer Ahamad sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $250.00, for a total transaction of $1,500,000.00. Following the transaction, the insider directly owned 61,888 shares in the company, valued at $15,472,000. This represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Samsheer Ahamad also recently made the following trade(s):

• On Thursday, September 11th, Samsheer Ahamad sold 3,811 shares of SiTime stock. The stock was sold at an average price of $255.03, for a total transaction of $971,919.33.
• On Wednesday, September 3rd, Samsheer Ahamad sold 2,000 shares of SiTime stock. The stock was sold at an average price of $226.57, for a total transaction of $453,140.00.

SiTime Trading Up 0.6%

Shares of SITM opened at $260.00 on Friday. SiTime Corporation has a 12 month low of $105.40 and a 12 month high of $268.18. The firm’s 50 day moving average is $217.76 and its 200-day moving average is $191.57. The stock has a market capitalization of $6.76 billion, a PE ratio of -74.71 and a beta of 2.18.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, August 6th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.29 by $0.18. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The company had revenue of $69.49 million for the quarter, compared to analysts’ expectations of $64.66 million. During the same period last year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was up 58.3% on a year-over-year basis. Equities research analysts predict that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of SiTime

Hedge funds have recently added to or reduced their stakes in the stock. Fourth Dimension Wealth LLC acquired a new stake in SiTime in the fourth quarter valued at approximately $25,000. Game Plan Financial Advisors LLC acquired a new stake in SiTime in the second quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in SiTime in the first quarter valued at approximately $32,000. Advisors Asset Management Inc. boosted its position in SiTime by 33.6% in the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after buying an additional 88 shares in the last quarter. Finally, State of Wyoming acquired a new stake in SiTime in the second quarter valued at approximately $58,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Analyst Ratings Changes

SITM has been the topic of several recent research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $270.00 target price (up from $250.00) on shares of SiTime in a report on Friday, August 29th. Barclays increased their price target on shares of SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a research report on Thursday, August 7th. UBS Group assumed coverage on shares of SiTime in a research report on Thursday, August 14th. They set a “buy” rating and a $260.00 price target on the stock. Finally, Stifel Nicolaus increased their price target on shares of SiTime from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.33.

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.