SiTime (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 1,500 Shares

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,500 shares of SiTime stock in a transaction on Monday, December 1st. The stock was sold at an average price of $291.58, for a total transaction of $437,370.00. Following the sale, the insider directly owned 84,815 shares of the company’s stock, valued at approximately $24,730,357.70. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Thursday, September 4th, Fariborz Assaderaghi sold 3,000 shares of SiTime stock. The shares were sold at an average price of $231.75, for a total value of $695,250.00.

SiTime Price Performance

Shares of SITM stock traded up $38.60 during midday trading on Wednesday, hitting $346.50. The company had a trading volume of 744,966 shares, compared to its average volume of 339,161. The stock has a market cap of $9.04 billion, a price-to-earnings ratio of -117.06 and a beta of 2.55. The company’s 50 day simple moving average is $289.70 and its 200 day simple moving average is $245.22. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $386.00.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. SiTime had a negative net margin of 25.18% and a negative return on equity of 5.69%. The firm had revenue of $83.57 million for the quarter, compared to analysts’ expectations of $78.08 million. During the same period in the prior year, the company earned $0.40 EPS. The firm’s revenue was up 44.8% on a year-over-year basis. Analysts anticipate that SiTime Corporation will post -2.44 EPS for the current year.

Institutional Investors Weigh In On SiTime

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of SiTime by 4.7% during the third quarter. Vanguard Group Inc. now owns 2,764,066 shares of the company’s stock worth $832,841,000 after buying an additional 123,287 shares during the last quarter. Invesco Ltd. lifted its position in shares of SiTime by 1.8% during the 3rd quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock worth $312,550,000 after buying an additional 18,165 shares during the period. State Street Corp boosted its stake in shares of SiTime by 3.7% in the 2nd quarter. State Street Corp now owns 911,280 shares of the company’s stock valued at $194,176,000 after purchasing an additional 32,178 shares in the last quarter. Ameriprise Financial Inc. grew its stake in SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after buying an additional 132,948 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of SiTime by 36.8% in the third quarter. Wellington Management Group LLP now owns 537,741 shares of the company’s stock valued at $162,027,000 after buying an additional 144,671 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SITM shares. Needham & Company LLC lifted their price objective on SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Barclays boosted their price target on shares of SiTime from $220.00 to $260.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of SiTime in a research note on Tuesday. Finally, Loop Capital began coverage on SiTime in a research report on Friday, November 21st. They set a “buy” rating and a $350.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $332.14.

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.