SiTime Co. (NASDAQ:SITM) Insider Sells $217,283.70 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,002 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $216.85, for a total value of $217,283.70. Following the sale, the insider now directly owns 102,683 shares of the company’s stock, valued at $22,266,808.55. The trade was a 0.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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.
• On Tuesday, October 1st, Fariborz Assaderaghi sold 1,003 shares of SiTime stock. The shares were sold at an average price of $165.13, for a total transaction of $165,625.39.
• On Wednesday, September 11th, Fariborz Assaderaghi sold 1,003 shares of SiTime stock. The stock was sold at an average price of $140.00, for a total value of $140,420.00.

SiTime Stock Up 1.9 %

SiTime stock traded up $4.14 on Wednesday, hitting $223.42. The company’s stock had a trading volume of 212,931 shares, compared to its average volume of 203,792. The company has a fifty day moving average price of $190.15 and a 200-day moving average price of $154.55. The firm has a market cap of $5.22 billion, a P/E ratio of -52.97 and a beta of 1.86. SiTime Co. has a one year low of $72.39 and a one year high of $229.64.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.14. The firm 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 company’s quarterly revenue was up 62.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.81) earnings per share. Analysts anticipate that SiTime Co. will post -2.98 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on SITM. Stifel Nicolaus lifted their price target on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Needham & Company LLC upped their target price on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Roth Mkm raised their price target on shares of SiTime from $205.00 to $230.00 and gave the stock 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 company an “underweight” rating in a research report on Friday, November 8th.

Institutional Trading of SiTime

Institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in SiTime in the third quarter valued at about $166,000. Virtu Financial LLC acquired a new position in shares of SiTime in the 3rd quarter worth approximately $204,000. Geode Capital Management LLC grew its position in SiTime by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock worth $75,637,000 after acquiring an additional 15,759 shares during the last quarter. Barclays PLC increased its holdings in SiTime by 80.7% during 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. Finally, Public Employees Retirement System of Ohio raised its position in SiTime by 6.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 17,960 shares of the company’s stock valued at $3,080,000 after purchasing an additional 1,039 shares during the last quarter. 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.