Torsten Kreindl Sells 6,000 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) Director Torsten Kreindl sold 6,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the completion of the sale, the director now directly owns 13,511 shares of the company’s stock, valued at $2,984,039.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

SiTime Stock Performance

SiTime stock opened at $202.32 on Thursday. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $228.12. The stock has a market capitalization of $4.73 billion, a P/E ratio of -48.87 and a beta of 1.83. The stock has a fifty day moving average of $172.02 and a 200-day moving average of $144.00.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The company had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The firm’s quarterly revenue was up 62.4% compared to the same quarter last year. During the same period last year, the company posted ($0.81) EPS. On average, research analysts forecast that SiTime Co. will post -3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Needham & Company LLC boosted their price target on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. 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. Stifel Nicolaus raised their price target on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Barclays upped their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th.

Hedge Funds Weigh In On SiTime

A number of institutional investors and hedge funds have recently bought and sold shares of SITM. FMR LLC grew its holdings in shares of SiTime by 1.1% during the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after purchasing an additional 39,119 shares during the last quarter. Vanguard Group Inc. increased its position in SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after acquiring an additional 85,800 shares during the period. Principal Financial Group Inc. increased its position in SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after acquiring an additional 59,931 shares during the period. William Blair Investment Management LLC grew its stake in shares of SiTime by 62.0% in the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after purchasing an additional 79,648 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in SiTime by 7.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock valued at $28,440,000 after purchasing an additional 11,955 shares during the period. Institutional investors and hedge funds 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.