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

SiTime Co. (NASDAQ:SITM - Get Free Report) insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the transaction, the insider now directly owns 99,678 shares of the company's stock, valued at approximately $20,376,176.76. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, January 2nd, Fariborz Assaderaghi sold 1,002 shares of SiTime stock. The stock was sold at an average price of $220.94, for a total value of $221,381.88.
• 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 value of $249,420.00.
• On Monday, December 2nd, Fariborz Assaderaghi sold 1,002 shares of SiTime stock. The shares were 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 stock was sold at an average price of $216.25, for a total transaction of $78,498.75.
• On Tuesday, November 19th, Fariborz Assaderaghi sold 1,000 shares of SiTime stock. The shares were sold at an average price of $210.16, for a total transaction of $210,160.00.

SiTime Price Performance

SITM traded up $3.56 during trading on Friday, hitting $179.88. 433,677 shares of the stock traded hands, compared to its average volume of 248,673. The business has a 50 day moving average price of $227.34 and a 200 day moving average price of $186.78. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -44.41 and a beta of 1.80.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.14. The business had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. SiTime's revenue for the quarter was up 62.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.81) EPS. On average, equities research analysts predict that SiTime Co. will post -1.51 earnings per share for the current year.

Institutional Investors Weigh In On SiTime

Hedge funds have recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of SiTime by 1.1% during the third quarter. FMR LLC now owns 3,469,843 shares of the company's stock worth $595,113,000 after purchasing an additional 39,119 shares during the last quarter. State Street Corp grew its holdings in SiTime by 3.1% during the 3rd quarter. State Street Corp now owns 922,974 shares of the company's stock worth $158,299,000 after acquiring an additional 27,692 shares during the last quarter. Principal Financial Group Inc. increased its holdings in SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after purchasing an additional 59,931 shares during the period. Geode Capital Management LLC grew its position in shares of SiTime by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 440,922 shares of the company's stock valued at $75,637,000 after buying an additional 15,759 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in SiTime by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,937 shares of the company's stock valued at $36,886,000 after purchasing an additional 6,117 shares during the period. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SITM. Needham & Company LLC lifted their price target on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday. Barclays raised their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research report on Friday, January 17th. Roth Mkm boosted their price objective on shares of SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Raymond James reaffirmed an "outperform" rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a report on Thursday. Finally, Stifel Nicolaus increased their price target on SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, SiTime presently has a consensus rating of "Moderate Buy" and a consensus price target of $232.00.

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.