SiTime (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 1,709 Shares

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,709 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $731.49, for a total transaction of $1,250,116.41. Following the completion of the transaction, the insider directly owned 81,436 shares in the company, valued at $59,569,619.64. This trade represents a 2.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SiTime Price Performance

Shares of SITM stock traded down $16.91 during mid-day trading on Wednesday, hitting $726.21. The company had a trading volume of 411,905 shares, compared to its average volume of 443,506. The company has a market capitalization of $19.17 billion, a P/E ratio of -719.02 and a beta of 2.91. The stock’s 50 day moving average price is $526.53 and its 200-day moving average price is $415.80. SiTime Corporation has a 52-week low of $186.49 and a 52-week high of $901.81.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.30. The company had revenue of $113.57 million for the quarter, compared to the consensus estimate of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. SiTime’s revenue was up 88.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. On average, equities research analysts expect that SiTime Corporation will post 3.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. Roth Mkm reaffirmed a “buy” rating and set a $900.00 price target on shares of SiTime in a research note on Thursday, May 7th. Needham & Company LLC upped their price target on shares of SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. UBS Group upped their price target on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $800.00 price target on shares of SiTime in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $661.88.

Institutional Investors Weigh In On SiTime

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rakuten Securities Inc. raised its stake in shares of SiTime by 188.5% in the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 49 shares during the period. Parallel Advisors LLC raised its stake in shares of SiTime by 26.2% in the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock valued at $27,000 after acquiring an additional 16 shares during the period. Optiver Holding B.V. raised its stake in shares of SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after acquiring an additional 32 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of SiTime by 190.3% in the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of SiTime in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Company Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.