SiTime Co. (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 5,112 Shares

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 5,112 shares of SiTime stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $205.53, for a total transaction of $1,050,669.36. Following the transaction, the insider now directly owns 107,204 shares in the company, valued at $22,033,638.12. This trade represents a 4.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, May 8th, Fariborz Assaderaghi sold 1,268 shares of SiTime stock. The stock was sold at an average price of $184.92, for a total transaction of $234,478.56.
• On Tuesday, April 29th, Fariborz Assaderaghi sold 1,267 shares of SiTime stock. The stock was sold at an average price of $147.80, for a total transaction of $187,262.60.

SiTime Price Performance

Shares of SITM opened at $197.59 on Friday. SiTime Co. has a 1-year low of $105.40 and a 1-year high of $268.18. The stock has a market cap of $4.69 billion, a PE ratio of -48.79 and a beta of 2.24. The firm has a 50-day simple moving average of $161.61 and a two-hundred day simple moving average of $191.30.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.15. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The business had revenue of $60.31 million during the quarter, compared to analysts’ expectations of $54.01 million. During the same period last year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was up 82.7% on a year-over-year basis. As a group, sell-side analysts expect that SiTime Co. will post -2.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of SiTime from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Needham & Company LLC lifted their price target on shares of SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Raymond James reiterated an “outperform” rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Finally, Barclays lifted their price target on shares of SiTime from $110.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $215.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Fourth Dimension Wealth LLC acquired a new position in shares of SiTime in the fourth quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of SiTime in the first quarter valued at approximately $32,000. Blue Trust Inc. grew its holdings in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after purchasing an additional 67 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of SiTime by 33.6% in the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after purchasing an additional 88 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of SiTime in the fourth quarter valued at approximately $58,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

About SiTime

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.