Insider Selling: SiTime (NASDAQ:SITM) Insider Sells $208,030.00 in Stock

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 500 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $416.06, for a total transaction of $208,030.00. Following the completion of the transaction, the insider owned 100,049 shares of the company’s stock, valued at $41,626,386.94. This represents a 0.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, February 11th, Fariborz Assaderaghi sold 2,112 shares of SiTime stock. The stock was sold at an average price of $428.08, for a total transaction of $904,104.96.
• On Monday, December 1st, Fariborz Assaderaghi sold 1,500 shares of SiTime stock. The shares were sold at an average price of $291.58, for a total transaction of $437,370.00.

SiTime Price Performance

Shares of SITM stock traded down $13.08 during midday trading on Thursday, reaching $423.20. 383,299 shares of the company traded hands, compared to its average volume of 351,941. The firm’s 50 day simple moving average is $367.66 and its two-hundred day simple moving average is $301.88. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $446.96.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.33. The firm had revenue of $113.29 million during the quarter, compared to analysts’ expectations of $101.91 million. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.SiTime’s revenue was up 66.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. As a group, equities analysts expect that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on SITM shares. UBS Group raised their target price on shares of SiTime from $430.00 to $485.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Stifel Nicolaus set a $450.00 price objective on shares of SiTime in a research note on Thursday, February 5th. Raymond James Financial reaffirmed an “outperform” rating on shares of SiTime in a research note on Tuesday, December 2nd. Loop Capital assumed coverage on SiTime in a research report on Friday, November 21st. They set a “buy” rating and a $350.00 price target for the company. Finally, Needham & Company LLC upped their price objective on SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, SiTime presently has a consensus rating of “Moderate Buy” and an average price target of $409.38.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Rakuten Securities Inc. grew its position in shares of SiTime by 188.5% in the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Hantz Financial Services Inc. boosted its stake in SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Optiver Holding B.V. grew its holdings in SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after buying an additional 32 shares during the period. Larson Financial Group LLC increased its stake in shares of SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after acquiring an additional 96 shares during the last quarter. Finally, Danske Bank A S acquired a new position in shares of SiTime during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Company Profile

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.