SiTime Co. (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 1,002 Shares

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,002 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total value of $221,381.88. Following the completion of the sale, the insider now owns 100,681 shares of the company’s stock, valued at $22,244,460.14. This represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, December 10th, Fariborz Assaderaghi sold 1,000 shares of SiTime stock. The stock was sold at an average price of $249.42, for a total value of $249,420.00.
• On Monday, December 2nd, Fariborz Assaderaghi sold 1,002 shares of SiTime stock. The stock was sold at an average price of $216.85, for a total transaction of $217,283.70.
• On Monday, November 25th, Fariborz Assaderaghi sold 363 shares of SiTime stock. The shares were sold at an average price of $216.25, for a total transaction of $78,498.75.
• On Tuesday, November 19th, Fariborz Assaderaghi sold 1,000 shares of SiTime stock. The stock was sold at an average price of $210.16, for a total transaction of $210,160.00.

SiTime Price Performance

SITM stock opened at $234.35 on Friday. The business has a 50-day moving average of $214.87 and a 200-day moving average of $171.24. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18. The stock has a market capitalization of $5.47 billion, a P/E ratio of -56.61 and a beta of 1.86.

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

Institutional Investors Weigh In On SiTime

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of SiTime by 1.1% during the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after buying an additional 39,119 shares during the last quarter. State Street Corp raised its holdings in SiTime by 3.1% during the third quarter. State Street Corp now owns 922,974 shares of the company’s stock worth $158,299,000 after acquiring an additional 27,692 shares in the last quarter. Principal Financial Group Inc. boosted its position in SiTime by 15.4% during the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after purchasing an additional 59,931 shares during the last quarter. Geode Capital Management LLC grew its stake in SiTime by 3.7% in the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock valued at $75,637,000 after purchasing an additional 15,759 shares in the last quarter. Finally, William Blair Investment Management LLC increased its position 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. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SITM has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Roth Mkm raised their price target on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays boosted 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 raised their target price on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a 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.