Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells 1,002 Shares of Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,002 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $216.85, for a total transaction of $217,283.70. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value of $78,498.75.
• On Tuesday, November 19th, Fariborz Assaderaghi sold 1,000 shares of SiTime stock. The stock was 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 shares were sold at an average price of $140.00, for a total transaction of $140,420.00.

SiTime Stock Up 1.9 %

Shares of SITM stock traded up $4.14 during trading hours on Wednesday, reaching $223.42. 212,931 shares of the stock traded hands, compared to its average volume of 203,792. The firm has a market capitalization of $5.22 billion, a PE ratio of -52.97 and a beta of 1.86. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $229.64. The business has a fifty day moving average price of $190.15 and a 200 day moving average price of $154.55.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The company 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 in the prior year, the company earned ($0.81) earnings per share. Research analysts expect that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SiTime

A number of hedge funds have recently modified their holdings of SITM. Signaturefd LLC grew its stake in shares of SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in SiTime by 59.5% in the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares during the last quarter. GAMMA Investing LLC grew its position in SiTime by 281.0% in the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after acquiring an additional 281 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of SiTime during the 2nd quarter worth $49,000. Finally, Van ECK Associates Corp bought a new position in shares of SiTime during the 3rd quarter valued at $123,000. 84.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SITM shares. Needham & Company LLC increased their price target on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus raised 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. Barclays boosted their price target on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Finally, Roth Mkm raised their price objective on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

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.