SiTime Co. (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 1,003 Shares

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,003 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.13, for a total value of $165,625.39. Following the transaction, the insider now directly owns 110,578 shares in the company, valued at approximately $18,259,745.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, September 11th, Fariborz Assaderaghi sold 1,003 shares of SiTime stock. The shares were sold at an average price of $140.00, for a total transaction of $140,420.00.
• On Wednesday, August 28th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The shares were sold at an average price of $139.05, for a total value of $150,591.15.
• On Monday, July 29th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The stock was sold at an average price of $143.31, for a total value of $155,204.73.

SiTime Stock Up 0.8 %

NASDAQ:SITM traded up $1.37 during midday trading on Wednesday, hitting $169.62. The stock had a trading volume of 118,542 shares, compared to its average volume of 209,967. The stock has a 50-day moving average of $142.61 and a 200 day moving average of $123.07. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of -40.74 and a beta of 1.82. SiTime Co. has a one year low of $72.39 and a one year high of $181.00.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The business had revenue of $43.90 million for the quarter, compared to the consensus estimate of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The business’s revenue was up 58.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.17) EPS. On average, sell-side analysts anticipate that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SITM. Driehaus Capital Management LLC bought a new position in shares of SiTime during the second quarter valued at approximately $16,831,000. Norges Bank purchased a new position in shares of SiTime in the 4th quarter valued at $12,662,000. Vanguard Group Inc. raised its position in shares of SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after acquiring an additional 85,800 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of SiTime by 62.0% during the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after purchasing an additional 79,648 shares during the last quarter. Finally, F M Investments LLC bought a new stake in SiTime during the second quarter valued at about $8,909,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SITM. Stifel Nicolaus upped their price objective on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Needham & Company LLC restated a “buy” rating and issued a $130.00 price target on shares of SiTime in a report on Tuesday, June 25th. Finally, Barclays downgraded shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a research note on Tuesday, August 27th.

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.