SiTime Co. (NASDAQ:SITM) Insider Sells $201,360.00 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $201.36, for a total transaction of $201,360.00. Following the completion of the transaction, the insider now directly owns 101,319 shares of the company’s stock, valued at approximately $20,401,593.84. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, May 19th, Fariborz Assaderaghi sold 5,112 shares of SiTime stock. The stock was sold at an average price of $205.53, for a total transaction of $1,050,669.36.
• On Thursday, May 8th, Fariborz Assaderaghi sold 1,268 shares of SiTime stock. The shares were sold at an average price of $184.92, for a total value of $234,478.56.
• On Tuesday, April 29th, Fariborz Assaderaghi sold 1,267 shares of SiTime stock. The shares were sold at an average price of $147.80, for a total transaction of $187,262.60.

SiTime Price Performance

SITM stock traded up $7.19 during midday trading on Monday, reaching $213.03. 277,592 shares of the company were exchanged, compared to its average volume of 247,815. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of -52.60 and a beta of 2.24. The business has a 50-day moving average price of $167.32 and a two-hundred day moving average price of $190.56. SiTime Co. has a one year low of $105.40 and a one year high of $268.18.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.15. The business had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. SiTime’s quarterly revenue was up 82.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) EPS. As a group, analysts anticipate that SiTime Co. will post -2.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SiTime

A number of large investors have recently made changes to their positions in SITM. Fourth Dimension Wealth LLC bought a new stake in SiTime in the 4th quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in shares of SiTime in the first quarter valued at about $32,000. Blue Trust Inc. increased its position in SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after acquiring an additional 67 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of SiTime during the fourth quarter worth approximately $58,000. Finally, Smartleaf Asset Management LLC raised its holdings in SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of SiTime from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Barclays upped their target price on shares of SiTime from $110.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, SiTime currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.00.

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.