SiTime Co. (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 363 Shares

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 363 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $216.25, for a total transaction of $78,498.75. Following the sale, the insider now directly owns 104,322 shares in the company, valued at approximately $22,559,632.50. The trade was a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, November 19th, Fariborz Assaderaghi sold 1,000 shares of SiTime stock. The shares were sold at an average price of $210.16, for a total value of $210,160.00.
• On Tuesday, October 1st, Fariborz Assaderaghi sold 1,003 shares of SiTime stock. The shares were sold at an average price of $165.13, for a total value of $165,625.39.
• On Wednesday, September 11th, Fariborz Assaderaghi sold 1,003 shares of SiTime stock. The shares were sold at an average price of $140.00, for a total transaction of $140,420.00.

SiTime Price Performance

SITM traded down $4.74 during trading on Wednesday, reaching $205.02. 164,014 shares of the company were exchanged, compared to its average volume of 203,580. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $228.12. The firm has a 50 day moving average of $185.31 and a 200 day moving average of $151.58.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. During the same quarter last year, the business posted ($0.81) earnings per share. The company’s quarterly revenue was up 62.4% on a year-over-year basis. On average, research analysts forecast that SiTime Co. will post -2.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays boosted their price objective on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Roth Mkm boosted 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. Needham & Company LLC raised their target price on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus increased their target price on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th.

Institutional Investors Weigh In On SiTime

A number of institutional investors have recently modified their holdings of the stock. Signaturefd LLC boosted its holdings in SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of SiTime by 59.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after acquiring an additional 88 shares during the period. GAMMA Investing LLC grew its stake in shares of SiTime by 281.0% in the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after purchasing an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in SiTime during the second quarter worth $49,000. Finally, Bessemer Group Inc. increased its position in shares of SiTime by 70.1% during the 1st quarter. Bessemer Group Inc. now owns 1,213 shares of the company’s stock worth $113,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

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.