Fariborz Assaderaghi Sells 1,500 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,500 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $712.72, for a total transaction of $1,069,080.00. Following the completion of the transaction, the insider owned 79,936 shares of the company’s stock, valued at approximately $56,971,985.92. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, May 22nd, Fariborz Assaderaghi sold 1,709 shares of SiTime stock. The shares were sold at an average price of $731.49, for a total transaction of $1,250,116.41.

SiTime Stock Performance

Shares of SITM traded up $36.07 during trading hours on Tuesday, hitting $701.08. The stock had a trading volume of 469,539 shares, compared to its average volume of 629,322. The firm has a market capitalization of $18.51 billion, a price-to-earnings ratio of -694.14 and a beta of 2.94. The firm has a 50-day moving average price of $555.39 and a 200 day moving average price of $426.61. SiTime Corporation has a fifty-two week low of $186.49 and a fifty-two week high of $901.81.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. The business had revenue of $113.57 million during the quarter, compared to analyst estimates of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The company’s revenue for the quarter was up 88.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 earnings per share. As a group, analysts predict that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SITM has been the subject of several recent analyst reports. Roth Mkm restated a “buy” rating and set a $900.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. Zacks Research upgraded shares of SiTime from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, UBS Group boosted their target price on shares of SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, SiTime presently has a consensus rating of “Moderate Buy” and a consensus price target of $661.88.

Hedge Funds Weigh In On SiTime

Several hedge funds and other institutional investors have recently made changes to their positions in SITM. Vanguard Group Inc. boosted its holdings in SiTime by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock worth $997,904,000 after acquiring an additional 61,336 shares during the period. Invesco Ltd. boosted its holdings in SiTime by 1.8% in the 3rd quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock worth $312,550,000 after acquiring an additional 18,165 shares during the period. State Street Corp boosted its holdings in SiTime by 3.7% in the 2nd quarter. State Street Corp now owns 911,280 shares of the company’s stock worth $194,176,000 after acquiring an additional 32,178 shares during the period. Ameriprise Financial Inc. boosted its holdings in SiTime by 22.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after acquiring an additional 132,948 shares during the period. Finally, Whale Rock Capital Management LLC boosted its holdings in SiTime by 45.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock worth $246,717,000 after acquiring an additional 218,038 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Company Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.