SiTime (NASDAQ:SITM) Trading Down 10.6%

SiTime Co. (NASDAQ:SITMGet Rating) shares were down 10.6% on Thursday . The company traded as low as $163.44 and last traded at $163.45. Approximately 3,839 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 242,328 shares. The stock had previously closed at $182.83.

Separately, TheStreet lowered shares of SiTime from a “c-” rating to a “d” rating in a research note on Wednesday, April 27th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $306.00.

The stock has a market cap of $3.42 billion, a P/E ratio of 83.83, a PEG ratio of 7.88 and a beta of 1.49. The business’s fifty day moving average price is $189.91 and its 200 day moving average price is $220.10.

SiTime (NASDAQ:SITMGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.18. The company had revenue of $70.25 million during the quarter, compared to the consensus estimate of $65.00 million. SiTime had a return on equity of 8.76% and a net margin of 16.56%. The firm’s revenue was up 97.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.20) earnings per share. Research analysts expect that SiTime Co. will post 1.66 EPS for the current year.

In related news, CEO Rajesh Vashist sold 5,000 shares of SiTime stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $180.89, for a total value of $904,450.00. Following the completion of the sale, the chief executive officer now owns 613,300 shares of the company’s stock, valued at approximately $110,939,837. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Vincent P. Pangrazio sold 500 shares of SiTime stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $225.00, for a total value of $112,500.00. Following the transaction, the insider now directly owns 92,629 shares of the company’s stock, valued at approximately $20,841,525. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,124 shares of company stock worth $4,506,838. 1.10% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of SiTime during the first quarter valued at $41,000. Syquant Capital Sas bought a new stake in SiTime during the 4th quarter valued at $73,000. Nisa Investment Advisors LLC purchased a new position in shares of SiTime in the 1st quarter valued at $78,000. Covestor Ltd grew its stake in SiTime by 14,500.0% during the 1st quarter. Covestor Ltd now owns 438 shares of the company’s stock worth $109,000 after buying an additional 435 shares during the last quarter. Finally, FourThought Financial LLC lifted its position in SiTime by 30.1% during the 1st quarter. FourThought Financial LLC now owns 454 shares of the company’s stock worth $113,000 after acquiring an additional 105 shares during the period. 62.79% of the stock is currently owned by hedge funds and other institutional investors.

About SiTime (NASDAQ:SITM)

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

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