SiTime Co. (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 1,003 Shares

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $140.00, for a total value of $140,420.00. Following the completion of the sale, the insider now directly owns 111,581 shares in the company, valued at approximately $15,621,340. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, August 28th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The shares were sold at an average price of $139.05, for a total value of $150,591.15.
• On Monday, July 29th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The shares were sold at an average price of $143.31, for a total transaction of $155,204.73.
• On Wednesday, June 26th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The stock was sold at an average price of $121.61, for a total transaction of $131,703.63.

SiTime Stock Down 0.6 %

SiTime stock traded down $0.85 during midday trading on Thursday, reaching $141.51. The stock had a trading volume of 112,172 shares, compared to its average volume of 211,163. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of -34.47 and a beta of 1.82. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $165.11. The company has a fifty day moving average of $139.20 and a 200 day moving average of $116.09.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.08. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The firm had revenue of $43.90 million for the quarter, compared to the consensus estimate of $41.01 million. During the same period in the prior year, the business posted ($1.17) earnings per share. The company’s revenue for the quarter was up 58.5% on a year-over-year basis. Equities research analysts predict that SiTime Co. will post -3.03 EPS for the current year.

Institutional Trading of SiTime

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of SiTime by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after acquiring an additional 85,800 shares during the period. Wasatch Advisors LP grew its stake in SiTime by 2.9% in the fourth quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock worth $108,908,000 after purchasing an additional 25,324 shares in the last quarter. Principal Financial Group Inc. increased its holdings in SiTime by 15.2% during the 2nd quarter. Principal Financial Group Inc. now owns 388,999 shares of the company’s stock worth $48,384,000 after purchasing an additional 51,407 shares during the period. Dimensional Fund Advisors LP increased its holdings in SiTime by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock worth $30,112,000 after purchasing an additional 35,491 shares during the period. Finally, William Blair Investment Management LLC raised its position in SiTime by 62.0% during the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after purchasing an additional 79,648 shares in the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SITM. Stifel Nicolaus increased their price target on shares of SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Barclays lowered SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective for the company. in a research note on Tuesday, August 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $130.00 price target on shares of SiTime in a report on Tuesday, June 25th.

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.