SiTime Co. (NASDAQ:SITM) Insider Sells $249,420.00 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $249.42, for a total transaction of $249,420.00. Following the completion of the transaction, the insider now owns 101,683 shares of the company’s stock, valued at approximately $25,361,773.86. This trade represents a 0.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, December 2nd, Fariborz Assaderaghi sold 1,002 shares of SiTime stock. The shares were sold at an average price of $216.85, for a total value of $217,283.70.
• On Monday, November 25th, Fariborz Assaderaghi sold 363 shares of SiTime stock. The stock was sold at an average price of $216.25, for a total value of $78,498.75.
• 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 stock was sold at an average price of $165.13, for a total transaction of $165,625.39.

SiTime Trading Down 1.9 %

SITM stock opened at $252.61 on Friday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18. The firm has a market cap of $5.90 billion, a PE ratio of -61.02 and a beta of 1.86. The stock has a 50-day moving average price of $201.30 and a 200-day moving average price of $160.67.

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

Hedge Funds Weigh In On SiTime

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates boosted its holdings in shares of SiTime by 70.0% in the 2nd quarter. Raymond James & Associates now owns 32,607 shares of the company’s stock valued at $4,056,000 after acquiring an additional 13,421 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after buying an additional 88 shares during the period. Atlas Brown Inc. acquired a new position in shares of SiTime during the 2nd quarter worth about $259,000. Louisiana State Employees Retirement System lifted its holdings in shares of SiTime by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the company’s stock valued at $1,107,000 after purchasing an additional 200 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in SiTime during the 2nd quarter worth $448,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.