SiTime Co. (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 1,000 Shares

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $201.36, for a total value of $201,360.00. Following the completion of the sale, the insider now owns 101,319 shares of the company’s stock, valued at approximately $20,401,593.84. The trade was a 0.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, May 19th, Fariborz Assaderaghi sold 5,112 shares of SiTime stock. The stock was sold at an average price of $205.53, for a total value of $1,050,669.36.
• On Thursday, May 8th, Fariborz Assaderaghi sold 1,268 shares of SiTime stock. The stock was sold at an average price of $184.92, for a total value of $234,478.56.
• On Tuesday, April 29th, Fariborz Assaderaghi sold 1,267 shares of SiTime stock. The stock was sold at an average price of $147.80, for a total value of $187,262.60.

SiTime Trading Up 3.5%

NASDAQ:SITM opened at $213.03 on Tuesday. SiTime Co. has a 12-month low of $105.40 and a 12-month high of $268.18. The stock has a 50-day moving average price of $168.41 and a 200 day moving average price of $190.58. The stock has a market capitalization of $5.05 billion, a P/E ratio of -52.60 and a beta of 2.24.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.15. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The firm had revenue of $60.31 million during the quarter, compared to analysts’ expectations of $54.01 million. During the same quarter last year, the business posted ($0.08) earnings per share. The firm’s revenue was up 82.7% on a year-over-year basis. On average, research analysts predict that SiTime Co. will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of SiTime

Several institutional investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in SiTime by 118.0% during the fourth quarter. Blue Trust Inc. now owns 327 shares of the company’s stock valued at $70,000 after buying an additional 177 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in SiTime by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company’s stock valued at $2,307,000 after buying an additional 57 shares during the last quarter. Legato Capital Management LLC boosted its stake in SiTime by 111.2% during the fourth quarter. Legato Capital Management LLC now owns 5,450 shares of the company’s stock valued at $1,169,000 after buying an additional 2,870 shares during the last quarter. Van ECK Associates Corp boosted its stake in SiTime by 256.2% during the fourth quarter. Van ECK Associates Corp now owns 2,429 shares of the company’s stock valued at $521,000 after buying an additional 1,747 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in SiTime by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 23,700 shares of the company’s stock valued at $5,084,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SITM. Stifel Nicolaus upped their price target on SiTime from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Barclays upped their price target on SiTime from $110.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

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.