Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells 1,962 Shares of Stock

SiTime Co. (NASDAQ:SITM) insider Vincent P. Pangrazio sold 1,962 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $150.00, for a total transaction of $294,300.00. Following the completion of the sale, the insider now directly owns 69,175 shares in the company, valued at $10,376,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

SiTime Stock Performance

Shares of NASDAQ SITM traded down $1.75 during mid-day trading on Friday, hitting $153.40. The stock had a trading volume of 270,157 shares, compared to its average volume of 209,136. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $160.14. The business has a 50 day moving average price of $123.99 and a two-hundred day moving average price of $108.92. The firm has a market cap of $3.51 billion, a P/E ratio of -37.90 and a beta of 1.82.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 8th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.17). SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. The firm had revenue of $33.02 million during the quarter, compared to analysts’ expectations of $32.02 million. Equities research analysts predict that SiTime Co. will post -2.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a “buy” rating and set a $130.00 price target on shares of SiTime in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, SiTime presently has an average rating of “Moderate Buy” and an average price target of $140.00.

Institutional Trading of SiTime

Several large investors have recently added to or reduced their stakes in SITM. Vanguard Group Inc. boosted its holdings in SiTime by 2.9% in the third quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock valued at $236,110,000 after acquiring an additional 58,629 shares in the last quarter. Legato Capital Management LLC bought a new stake in SiTime in the fourth quarter valued at $237,000. Raymond James Financial Services Advisors Inc. boosted its holdings in SiTime by 100.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 5,729 shares of the company’s stock valued at $699,000 after acquiring an additional 2,873 shares in the last quarter. Oak Ridge Investments LLC boosted its holdings in SiTime by 63.7% in the fourth quarter. Oak Ridge Investments LLC now owns 23,196 shares of the company’s stock valued at $2,832,000 after acquiring an additional 9,026 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in SiTime by 12,108.0% in the fourth quarter. International Assets Investment Management LLC now owns 12,208 shares of the company’s stock valued at $1,490,000 after acquiring an additional 12,108 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

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.