SiTime (NASDAQ:SITM) Stock Price Down 9.3% Following Insider Selling

SiTime Co. (NASDAQ:SITM - Get Free Report) was down 9.3% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $195.39 and last traded at $202.33. Approximately 38,579 shares were traded during trading, a decline of 82% from the average daily volume of 211,915 shares. The stock had previously closed at $222.99.

Specifically, insider Fariborz Assaderaghi sold 1,003 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the transaction, the insider now owns 99,678 shares of the company's stock, valued at approximately $20,376,176.76. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

SITM has been the topic of several research analyst reports. Needham & Company LLC raised their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday. Raymond James restated an "outperform" rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a research note on Thursday. Roth Mkm lifted their price objective on SiTime from $205.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Barclays upped their target price on SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research note on Friday, January 17th. Finally, Stifel Nicolaus boosted their price target on shares of 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $232.00.

SiTime Stock Up 2.0 %

The stock has a market capitalization of $4.20 billion, a P/E ratio of -44.41 and a beta of 1.80. The business has a 50-day simple moving average of $227.34 and a two-hundred day simple moving average of $186.78.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. The firm had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The firm's quarterly revenue was up 62.4% on a year-over-year basis. During the same period last year, the firm posted ($0.81) EPS. On average, sell-side analysts forecast that SiTime Co. will post -1.51 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its position in SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company's stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after buying an additional 67 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after buying an additional 206 shares in the last quarter. AlphaQuest LLC grew its holdings in SiTime by 8,460.0% during the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after acquiring an additional 423 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new stake in SiTime in the 3rd quarter valued at about $123,000. 84.31% of the stock is owned by institutional investors and hedge funds.

About SiTime

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.