SiTime (NASDAQ:SITM) Issues Quarterly Earnings Results, Misses Estimates By $1.01 EPS

SiTime (NASDAQ:SITM - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($1.01), Zacks reports. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. During the same period in the prior year, the business earned $0.24 EPS.

SiTime Stock Performance

Shares of SITM stock traded up $3.56 during trading hours on Friday, hitting $179.88. 433,677 shares of the company were exchanged, compared to its average volume of 248,673. SiTime has a fifty-two week low of $72.39 and a fifty-two week high of $268.18. The company has a 50 day simple moving average of $227.34 and a two-hundred day simple moving average of $186.78. The firm has a market cap of $4.20 billion, a P/E ratio of -44.41 and a beta of 1.80.

Insider Buying and Selling at SiTime

In other news, CEO Rajesh Vashist sold 12,000 shares of SiTime stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $259.25, for a total transaction of $3,111,000.00. Following the sale, the chief executive officer now owns 24,781 shares of the company's stock, valued at approximately $6,424,474.25. The trade was a 32.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 363 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $216.25, for a total transaction of $78,498.75. Following the completion of the transaction, the insider now owns 104,322 shares of the company's stock, valued at approximately $22,559,632.50. The trade was a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,934 shares of company stock valued at $5,206,598. Corporate insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SITM. Roth Mkm upped their price objective on SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Barclays upped their price objective on shares of SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Raymond James reiterated an "outperform" rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research report on Thursday. Needham & Company LLC increased their target price on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Stifel Nicolaus lifted their price target on SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $232.00.

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.