SiTime Co. (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 363 Shares

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 363 shares of SiTime stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $216.25, for a total transaction of $78,498.75. Following the completion of the transaction, the insider now directly owns 104,322 shares in the company, valued at approximately $22,559,632.50. This trade represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, November 19th, Fariborz Assaderaghi sold 1,000 shares of SiTime stock. The shares were sold at an average price of $210.16, for a total value of $210,160.00.
• On Tuesday, October 1st, Fariborz Assaderaghi sold 1,003 shares of SiTime stock. The shares were sold at an average price of $165.13, for a total value of $165,625.39.
• On Wednesday, September 11th, Fariborz Assaderaghi sold 1,003 shares of SiTime stock. The stock was sold at an average price of $140.00, for a total value of $140,420.00.

SiTime Trading Down 2.3 %

SiTime stock opened at $204.85 on Thursday. The company has a market capitalization of $4.79 billion, a P/E ratio of -49.48 and a beta of 1.83. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $228.12. The firm’s fifty day simple moving average is $186.27 and its 200-day simple moving average is $151.95.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. During the same quarter in the prior year, the firm posted ($0.81) EPS. The firm’s revenue for the quarter was up 62.4% on a year-over-year basis. On average, equities research analysts predict that SiTime Co. will post -2.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on SITM. Stifel Nicolaus increased their target price on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Barclays upped their price target on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Roth Mkm lifted their price objective on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC upped their target price on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SITM. Driehaus Capital Management LLC bought a new position in shares of SiTime in the second quarter worth about $16,831,000. Vanguard Group Inc. boosted its position in shares of SiTime by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after acquiring an additional 85,800 shares during the period. William Blair Investment Management LLC grew its stake in shares of SiTime by 62.0% in the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after acquiring an additional 79,648 shares during the last quarter. F M Investments LLC bought a new position in SiTime during the second quarter worth $8,909,000. Finally, LMR Partners LLP boosted its holdings in SiTime by 705.0% in the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after purchasing an additional 70,500 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

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.