SiTime (NASDAQ:SITM) Issues Quarterly Earnings Results

SiTime (NASDAQ:SITM) posted its quarterly earnings data on Wednesday. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of $0.42 by ($1.01), Zacks reports. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%.

SiTime Stock Up 3.9 %

SiTime stock traded up $8.38 during mid-day trading on Wednesday, hitting $222.99. The company had a trading volume of 412,801 shares, compared to its average volume of 219,597. The business has a fifty day moving average of $228.20 and a 200 day moving average of $186.20. SiTime has a 1 year low of $72.39 and a 1 year high of $268.18. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of -53.86 and a beta of 1.80.

Insider Activity at SiTime

In other SiTime news, insider Vincent P. Pangrazio sold 3,064 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $255.00, for a total transaction of $781,320.00. Following the completion of the sale, the insider now directly owns 65,978 shares of the company’s stock, valued at approximately $16,824,390. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 1,000 shares of SiTime stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.16, for a total value of $210,160.00. Following the completion of the transaction, the insider now owns 108,574 shares in the company, valued at $22,817,911.84. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,931 shares of company stock valued at $6,326,724 over the last ninety days. Insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Roth Mkm raised their price target on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their price target on shares of SiTime from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC increased their target price on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Barclays boosted their price target 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.

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.