SiTime Co. (NASDAQ:SITM) Insider Sells $210,160.00 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.16, for a total value of $210,160.00. Following the sale, the insider now owns 108,574 shares in the company, valued at $22,817,911.84. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, October 1st, Fariborz Assaderaghi sold 1,003 shares of SiTime stock. The stock was sold at an average price of $165.13, for a total value of $165,625.39.
• On Wednesday, September 11th, Fariborz Assaderaghi sold 1,003 shares of SiTime stock. The shares were sold at an average price of $140.00, for a total transaction of $140,420.00.
• On Wednesday, August 28th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The stock was sold at an average price of $139.05, for a total transaction of $150,591.15.

SiTime Price Performance

SITM opened at $211.08 on Friday. The business has a 50 day moving average price of $182.84 and a two-hundred day moving average price of $149.58. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of -50.99 and a beta of 1.83. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $228.12.

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

Analysts Set New Price Targets

Several research firms have commented on SITM. Roth Mkm upped their target price 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. Needham & Company LLC raised their target price on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus lifted their target price on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Barclays increased their price target on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th.

Institutional Trading of SiTime

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC grew its position in SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in SiTime by 0.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock worth $2,524,000 after purchasing an additional 94 shares in the last quarter. American International Group Inc. lifted its stake in SiTime by 1.2% during the first quarter. American International Group Inc. now owns 9,566 shares of the company’s stock valued at $892,000 after buying an additional 110 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of SiTime by 2.3% in the third quarter. Amalgamated Bank now owns 5,509 shares of the company’s stock worth $945,000 after buying an additional 122 shares during the period. 84.31% of the stock is currently owned by institutional investors.

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.