SiTime Co. (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 1,083 Shares of Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,083 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total value of $131,703.63. Following the transaction, the insider now directly owns 104,186 shares in the company, valued at approximately $12,670,059.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, April 26th, Fariborz Assaderaghi sold 1,288 shares of SiTime stock. The stock was sold at an average price of $84.25, for a total value of $108,514.00.

SiTime Stock Up 1.3 %

Shares of SITM opened at $123.25 on Friday. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $141.99. The stock’s 50 day moving average is $113.24 and its two-hundred day moving average is $107.95.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.17). SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. The business had revenue of $33.02 million during the quarter, compared to analysts’ expectations of $32.02 million. As a group, analysts anticipate that SiTime Co. will post -2.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SiTime

A number of hedge funds and other institutional investors have recently modified their holdings of SITM. Pineridge Advisors LLC acquired a new stake in shares of SiTime during the 4th quarter valued at approximately $25,000. Quadrant Capital Group LLC lifted its position in shares of SiTime by 78.2% during the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock valued at $41,000 after acquiring an additional 147 shares during the period. Nemes Rush Group LLC raised its position in shares of SiTime by 26.9% during the 4th quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after purchasing an additional 115 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of SiTime by 35.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock worth $84,000 after purchasing an additional 180 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of SiTime by 24.4% during the 4th quarter. Assetmark Inc. now owns 781 shares of the company’s stock worth $95,000 after purchasing an additional 153 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a “buy” rating and set a $130.00 price target on shares of SiTime in a report on Tuesday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $140.00.

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.