Sitime Corp (NASDAQ:SITM) EVP Sells $88,200.00 in Stock

Sitime Corp (NASDAQ:SITM) EVP Piyush B. Sevalia sold 3,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $29.40, for a total transaction of $88,200.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Piyush B. Sevalia also recently made the following trade(s):

  • On Wednesday, May 27th, Piyush B. Sevalia sold 3,000 shares of Sitime stock. The shares were sold at an average price of $31.08, for a total transaction of $93,240.00.

Shares of NASDAQ SITM traded up $1.19 during mid-day trading on Tuesday, reaching $31.00. 77,400 shares of the company traded hands, compared to its average volume of 93,369. Sitime Corp has a fifty-two week low of $15.42 and a fifty-two week high of $36.91. The firm has a market capitalization of $466.86 million and a price-to-earnings ratio of -50.25. The company has a fifty day moving average of $24.58.

Sitime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.22. The company had revenue of $21.74 million for the quarter, compared to analyst estimates of $20.47 million. Analysts anticipate that Sitime Corp will post -0.81 EPS for the current fiscal year.

SITM has been the subject of several recent research reports. BTIG Research lowered their target price on shares of Sitime from $11.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Needham & Company LLC lowered their price target on shares of Sitime from $33.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Stifel Nicolaus lowered their price target on shares of Sitime from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Raymond James lowered their price target on shares of Sitime from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Finally, Barclays lowered their price target on shares of Sitime from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Six analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $24.67.

Several hedge funds and other institutional investors have recently bought and sold shares of SITM. Strs Ohio purchased a new position in Sitime during the 1st quarter worth approximately $28,000. Citigroup Inc. grew its position in Sitime by 424.5% during the 1st quarter. Citigroup Inc. now owns 1,390 shares of the company’s stock worth $30,000 after purchasing an additional 1,125 shares in the last quarter. Deutsche Bank AG purchased a new position in Sitime during the 1st quarter worth approximately $34,000. UBS Group AG purchased a new position in Sitime during the 1st quarter worth approximately $61,000. Finally, American International Group Inc. purchased a new position in Sitime during the 1st quarter worth approximately $63,000. Institutional investors and hedge funds own 31.22% of the company’s stock.

About Sitime

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