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

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,002 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total transaction of $221,381.88. Following the transaction, the insider now directly owns 100,681 shares of the company’s stock, valued at $22,244,460.14. This trade 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 value 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 value 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 value of $210,160.00.

SiTime Stock Up 4.8 %

Shares of NASDAQ:SITM opened at $234.35 on Monday. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of -56.61 and a beta of 1.82. The company has a 50 day moving average of $214.87 and a two-hundred day moving average of $171.60. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The business had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. During the same period in the prior year, the firm earned ($0.81) earnings per share. The business’s quarterly revenue was up 62.4% compared to the same quarter last year. On average, equities analysts anticipate that SiTime Co. will post -2.98 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on SITM. Stifel Nicolaus increased their target price on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Barclays increased their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Needham & Company LLC lifted their target price on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Roth Mkm increased their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Institutional Trading of SiTime

Several large investors have recently modified their holdings of SITM. LMR Partners LLP boosted its holdings in SiTime by 705.0% in the third quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after purchasing an additional 70,500 shares during the last quarter. Barclays PLC raised its position in shares of SiTime by 80.7% in the 3rd quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after purchasing an additional 16,964 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of SiTime by 8.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 38,743 shares of the company’s stock valued at $4,819,000 after buying an additional 2,861 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of SiTime during the 2nd quarter valued at approximately $16,831,000. Finally, Creative Planning acquired a new stake in shares of SiTime during the third quarter worth approximately $842,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.