SiTime (NASDAQ:SITM) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS


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SiTime (NASDAQ:SITM) released its quarterly earnings data on Tuesday. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.07, MarketWatch Earnings reports. The business had revenue of $35.54 million for the quarter, compared to analysts’ expectations of $33.00 million. SiTime’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share.

Shares of SiTime stock traded down $4.54 during trading hours on Tuesday, reaching $85.98. The company’s stock had a trading volume of 271,319 shares, compared to its average volume of 225,134. SiTime has a one year low of $22.04 and a one year high of $151.78. The company’s 50 day simple moving average is $100.24 and its 200 day simple moving average is $106.66. The stock has a market cap of $1.62 billion, a P/E ratio of -124.61 and a beta of 0.75.

SITM has been the topic of a number of recent research reports. Zacks Investment Research cut SiTime from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 21st. Barclays increased their price objective on shares of SiTime from $100.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, January 26th. They noted that the move was a valuation call. Needham & Company LLC lifted their price objective on shares of SiTime from $105.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. Roth Capital raised their price target on shares of SiTime from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, February 4th. Finally, Raymond James boosted their price objective on shares of SiTime from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, February 4th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $124.67.

In other SiTime news, CEO Rajesh Vashist sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 17th. The stock was sold at an average price of $135.24, for a total value of $405,720.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 306 shares of the business’s stock in a transaction on Monday, February 22nd. The shares were sold at an average price of $114.09, for a total transaction of $34,911.54. Following the transaction, the insider now directly owns 123,798 shares of the company’s stock, valued at approximately $14,124,113.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,988 shares of company stock valued at $1,647,683. Insiders own 0.80% of the company’s stock.

SiTime Company Profile

SiTime Corporation provides silicon timing systems in Taiwan, Hong Kong, the United States, and internationally. It provides resonators and clock integrated circuits, and various types of oscillators. The company's solutions are used in various markets, including enterprise and telecommunications infrastructure, automotive, industrial, Internet of Things, mobile, and aerospace and defense.

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Earnings History for SiTime (NASDAQ:SITM)

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