SiTime Co. (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 1,288 Shares

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,288 shares of SiTime stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total value of $116,654.16. Following the transaction, the insider now directly owns 111,491 shares in the company, valued at approximately $10,097,739.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, February 29th, Fariborz Assaderaghi sold 1,026 shares of SiTime stock. The shares were sold at an average price of $92.33, for a total value of $94,730.58.
• On Monday, January 29th, Fariborz Assaderaghi sold 1,026 shares of SiTime stock. The shares were sold at an average price of $116.37, for a total value of $119,395.62.

SiTime Stock Up 2.3 %

SITM stock opened at $93.23 on Friday. The firm’s 50 day moving average price is $102.58 and its 200-day moving average price is $109.67. SiTime Co. has a one year low of $81.09 and a one year high of $142.35.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The business had revenue of $42.40 million during the quarter, compared to analyst estimates of $41.65 million. SiTime had a negative return on equity of 10.21% and a negative net margin of 55.93%. As a group, research analysts expect that SiTime Co. will post -2.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SITM. Barclays upped their price objective on SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Stifel Nicolaus increased their target price on SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $142.00.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Pineridge Advisors LLC acquired a new position in SiTime during the fourth quarter worth about $25,000. Parkside Financial Bank & Trust grew its position in SiTime by 99.3% during the second quarter. Parkside Financial Bank & Trust now owns 305 shares of the company’s stock worth $36,000 after buying an additional 152 shares during the period. Pinebridge Investments L.P. acquired a new position in SiTime during the second quarter worth about $39,000. Quadrant Capital Group LLC grew its position in SiTime by 78.2% during the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after buying an additional 147 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in shares of SiTime in the first quarter valued at approximately $50,000. 84.31% of the stock is owned by hedge funds and other 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.