Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells $78,498.75 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 363 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $216.25, for a total value of $78,498.75. Following the sale, the insider now directly owns 104,322 shares of the company’s stock, valued at approximately $22,559,632.50. This trade represents a 0.35 % decrease in their position. The transaction 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, 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 value 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 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 value of $140,420.00.

SiTime Trading Up 3.7 %

Shares of SiTime stock opened at $212.38 on Friday. The firm has a market capitalization of $4.96 billion, a P/E ratio of -51.30 and a beta of 1.83. The business has a fifty day simple moving average of $187.98 and a two-hundred day simple moving average of $152.93. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $228.12.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SITM shares. Roth Mkm lifted their price target on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their price target on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays lifted their price target on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Finally, Needham & Company LLC lifted their price target on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Hedge Funds Weigh In On SiTime

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after buying an additional 60 shares during the period. Nisa Investment Advisors LLC raised its position in shares of SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares during the last quarter. GAMMA Investing LLC raised its position in shares of SiTime by 281.0% in the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after purchasing an additional 281 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of SiTime in the 2nd quarter worth about $49,000. Finally, Van ECK Associates Corp purchased a new position in shares of SiTime in the 3rd quarter worth about $123,000. Hedge funds and other institutional investors 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.