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

SiTime Co. (NASDAQ:SITM - Get Free Report) insider Fariborz Assaderaghi sold 1,002 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total value of $221,381.88. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction 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 Trading Up 4.8 %

SiTime stock traded up $10.74 during midday trading on Friday, reaching $234.35. 147,888 shares of the stock traded hands, compared to its average volume of 141,944. The firm has a market cap of $5.47 billion, a PE ratio of -56.61 and a beta of 1.86. The company has a 50-day simple moving average of $214.87 and a two-hundred day simple moving average of $171.24. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.26 by $0.14. The business had revenue of $57.70 million during the quarter, compared to analyst estimates of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The business's revenue for the quarter was up 62.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.81) earnings per share. Equities research analysts anticipate that SiTime Co. will post -2.98 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of SiTime

A number of large investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in SiTime by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 944 shares of the company's stock worth $203,000 after purchasing an additional 201 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after buying an additional 59,931 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of SiTime during the third quarter worth about $166,000. Virtu Financial LLC acquired a new position in shares of SiTime during the third quarter worth about $204,000. Finally, Geode Capital Management LLC increased its stake in shares of SiTime by 3.7% during the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company's stock worth $75,637,000 after buying an additional 15,759 shares during the period. Hedge funds and other institutional investors own 84.31% of the company's stock.

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.