SiTime Co. (NASDAQ:SITM) Insider Sells $221,381.88 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,002 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total value of $221,381.88. Following the completion of the sale, the insider now owns 100,681 shares in the company, valued at approximately $22,244,460.14. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, December 10th, Fariborz Assaderaghi sold 1,000 shares of SiTime stock. The shares were sold at an average price of $249.42, for a total transaction of $249,420.00.
• On Monday, December 2nd, Fariborz Assaderaghi sold 1,002 shares of SiTime stock. The stock was sold at an average price of $216.85, for a total transaction of $217,283.70.
• On Monday, November 25th, Fariborz Assaderaghi sold 363 shares of SiTime stock. The shares were sold at an average price of $216.25, for a total transaction of $78,498.75.
• On Tuesday, November 19th, Fariborz Assaderaghi sold 1,000 shares of SiTime stock. The stock was sold at an average price of $210.16, for a total value of $210,160.00.

SiTime Stock Up 4.8 %

SITM stock opened at $234.35 on Friday. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18. The business has a 50-day simple moving average of $214.87 and a 200 day simple moving average of $171.24. The company has a market cap of $5.47 billion, a PE ratio of -56.61 and a beta of 1.86.

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

Analysts Set New Price Targets

SITM has been the subject of several recent research reports. Roth Mkm boosted their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays upped their price target on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Needham & Company LLC raised their price target on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus boosted their price objective on shares of 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 large investors have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in shares of SiTime by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 51,019 shares of the company’s stock worth $6,346,000 after buying an additional 745 shares in the last quarter. Arizona State Retirement System raised its stake in SiTime by 10.7% during the second quarter. Arizona State Retirement System now owns 5,122 shares of the company’s stock worth $637,000 after acquiring an additional 493 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of SiTime in the second quarter worth about $647,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of SiTime in the 2nd quarter valued at approximately $1,841,000. Finally, William Blair Investment Management LLC boosted its stake in shares of SiTime by 62.0% in the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after purchasing an additional 79,648 shares in the last quarter. Institutional investors and hedge funds 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.