SiTime Co. (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 1,083 Shares of Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,083 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total value of $150,591.15. Following the completion of the transaction, the insider now directly owns 112,584 shares in the company, valued at approximately $15,654,805.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Fariborz Assaderaghi also recently made the following trade(s):

• On Monday, July 29th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The stock was sold at an average price of $143.31, for a total transaction of $155,204.73.
• On Wednesday, June 26th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The shares were sold at an average price of $121.61, for a total transaction of $131,703.63.

SiTime Stock Performance

Shares of SITM traded down $1.79 during mid-day trading on Friday, reaching $145.14. The company had a trading volume of 18,119 shares, compared to its average volume of 213,677. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of -35.58 and a beta of 1.82. The company’s 50 day simple moving average is $136.66 and its 200 day simple moving average is $114.21. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $165.11.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The business had revenue of $43.90 million for the quarter, compared to analyst estimates of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. SiTime’s quarterly revenue was up 58.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.17) EPS. As a group, equities analysts forecast that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SITM has been the subject of several recent research reports. Barclays cut SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of SiTime in a research report on Tuesday, June 25th. Finally, Stifel Nicolaus raised their target price on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 18th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Pineridge Advisors LLC acquired a new stake in shares of SiTime during the fourth quarter worth $25,000. Nisa Investment Advisors LLC grew its stake in SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares during the period. Quadrant Capital Group LLC increased its holdings in SiTime by 78.2% in the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after purchasing an additional 147 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of SiTime by 281.0% during the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after buying an additional 281 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of SiTime during the 2nd quarter worth approximately $49,000. Institutional investors own 84.31% of the company’s stock.

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.