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

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,500 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $712.72, for a total transaction of $1,069,080.00. Following the completion of the transaction, the insider owned 79,936 shares of the company’s stock, valued at approximately $56,971,985.92. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, May 22nd, Fariborz Assaderaghi sold 1,709 shares of SiTime stock. The stock was sold at an average price of $731.49, for a total transaction of $1,250,116.41.

SiTime Price Performance

Shares of SiTime stock opened at $701.08 on Wednesday. The company has a 50-day moving average of $555.39 and a 200 day moving average of $426.61. The firm has a market cap of $18.51 billion, a price-to-earnings ratio of -694.14 and a beta of 2.94. SiTime Corporation has a 1 year low of $186.49 and a 1 year high of $901.81.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.30. The company had revenue of $113.57 million during the quarter, compared to analyst estimates of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. SiTime’s quarterly revenue was up 88.3% compared to the same quarter last year. During the same period last year, the business earned $0.26 EPS. On average, equities analysts anticipate that SiTime Corporation will post 3.23 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on SITM. Needham & Company LLC increased their price objective on shares of SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Stifel Nicolaus increased their price objective on shares of SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. The Goldman Sachs Group reissued a “buy” rating and set a $800.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $661.88.

Institutional Trading of SiTime

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of SiTime in the fourth quarter worth approximately $83,977,000. Whale Rock Capital Management LLC boosted its holdings in shares of SiTime by 45.4% in the fourth quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock worth $246,717,000 after buying an additional 218,038 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of SiTime by 61.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 562,892 shares of the company’s stock worth $198,808,000 after buying an additional 213,242 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of SiTime in the fourth quarter worth approximately $59,452,000. Finally, Wellington Management Group LLP boosted its holdings 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 worth $162,027,000 after buying an additional 144,671 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

About SiTime

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.