Fariborz Assaderaghi Sells 1,288 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,288 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $84.25, for a total value of $108,514.00. Following the transaction, the insider now directly owns 110,203 shares of the company’s stock, valued at $9,284,602.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, March 27th, Fariborz Assaderaghi sold 1,288 shares of SiTime stock. The stock was sold at an average price of $90.57, for a total value of $116,654.16.
• On Thursday, February 29th, Fariborz Assaderaghi sold 1,026 shares of SiTime stock. The stock was sold at an average price of $92.33, for a total value of $94,730.58.

SiTime Price Performance

Shares of NASDAQ SITM opened at $87.28 on Thursday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -24.04 and a beta of 1.78. The business has a 50-day moving average of $88.15 and a two-hundred day moving average of $104.81. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $141.99.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). SiTime had a negative return on equity of 10.21% and a negative net margin of 55.93%. The business had revenue of $42.40 million for the quarter, compared to analysts’ expectations of $41.65 million. As a group, equities research analysts expect that SiTime Co. will post -2.3 earnings per share for the current year.

Institutional Trading of SiTime

Institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC lifted its holdings in shares of SiTime by 19.8% in the 4th quarter. Jennison Associates LLC now owns 173,770 shares of the company’s stock valued at $21,214,000 after purchasing an additional 28,739 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of SiTime by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock valued at $236,110,000 after purchasing an additional 58,629 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of SiTime by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 358,017 shares of the company’s stock valued at $40,903,000 after purchasing an additional 16,092 shares during the last quarter. Amica Mutual Insurance Co. lifted its holdings in shares of SiTime by 478.9% in the 3rd quarter. Amica Mutual Insurance Co. now owns 5,175 shares of the company’s stock valued at $591,000 after purchasing an additional 4,281 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of SiTime by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,745 shares of the company’s stock valued at $15,166,000 after purchasing an additional 7,049 shares during the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Barclays lifted their price target on SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.00.

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.