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

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,002 shares of SiTime stock in a transaction that occurred on 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 directly owns 100,681 shares in the company, valued at approximately $22,244,460.14. This represents a 0.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, December 10th, Fariborz Assaderaghi sold 1,000 shares of SiTime stock. The shares were sold at an average price of $249.42, for a total transaction 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 Trading Up 4.8 %

Shares of NASDAQ:SITM traded up $10.74 during mid-day trading on Friday, hitting $234.35. 147,888 shares of the company traded hands, compared to its average volume of 141,944. The stock has a market cap of $5.47 billion, a P/E ratio of -56.61 and a beta of 1.86. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18. The stock has a 50-day moving average price of $214.87 and a two-hundred day moving average price of $171.24.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.26 by $0.14. The business had revenue of $57.70 million for the quarter, compared to the consensus estimate 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 business earned ($0.81) earnings per share. As a group, analysts expect that SiTime Co. will post -2.98 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in SiTime by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 944 shares of the company’s stock worth $203,000 after acquiring an additional 201 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of SiTime by 15.4% during the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after buying an additional 59,931 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of SiTime in the 3rd quarter worth about $166,000. Virtu Financial LLC bought a new position in shares of SiTime in the 3rd quarter worth about $204,000. Finally, Geode Capital Management LLC grew its holdings in SiTime by 3.7% in the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock worth $75,637,000 after purchasing an additional 15,759 shares during the period. 84.31% of the stock is owned by institutional investors.

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.