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 stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total transaction of $221,381.88. Following the sale, the insider now directly owns 100,681 shares in the company, valued at $22,244,460.14. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, December 10th, Fariborz Assaderaghi sold 1,000 shares of SiTime stock. The shares were sold at an average price of $249.42, for a total transaction of $249,420.00.
• On Monday, December 2nd, Fariborz Assaderaghi sold 1,002 shares of SiTime stock. The shares were sold at an average price of $216.85, for a total value of $217,283.70.
• 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 value of $210,160.00.

SiTime Trading Up 4.8 %

Shares of SITM stock traded up $10.74 during trading hours on Friday, reaching $234.35. 147,888 shares of the stock were exchanged, compared to its average volume of 141,944. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of -56.61 and a beta of 1.86. The company’s 50-day moving average price is $214.87 and its 200-day moving average price is $171.24.

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

Analysts Set New Price Targets

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

Institutional Trading of SiTime

Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its position in SiTime by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 51,019 shares of the company’s stock valued at $6,346,000 after purchasing an additional 745 shares during the period. Arizona State Retirement System boosted its stake in shares of SiTime by 10.7% in the second quarter. Arizona State Retirement System now owns 5,122 shares of the company’s stock worth $637,000 after buying an additional 493 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in SiTime during the second quarter worth about $647,000. State of New Jersey Common Pension Fund D acquired a new position in SiTime in the second quarter valued at approximately $1,841,000. Finally, William Blair Investment Management LLC boosted its position in SiTime by 62.0% in the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after purchasing an additional 79,648 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors.

SiTime Company Profile

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.