SiTime Co. (NASDAQ:SITM) Insider Sells $140,420.00 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,003 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $140.00, for a total transaction of $140,420.00. Following the transaction, the insider now directly owns 111,581 shares in the company, valued at approximately $15,621,340. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, August 28th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The shares were sold at an average price of $139.05, for a total transaction of $150,591.15.
• On Monday, July 29th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The stock was sold at an average price of $143.31, for a total value of $155,204.73.
• On Wednesday, June 26th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The shares were sold at an average price of $121.61, for a total value of $131,703.63.

SiTime Stock Performance

SITM stock traded down $0.85 on Thursday, hitting $141.51. 112,172 shares of the company’s stock were exchanged, compared to its average volume of 211,163. The firm has a 50 day moving average price of $139.20 and a two-hundred day moving average price of $116.09. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $165.11. The stock has a market cap of $3.27 billion, a P/E ratio of -34.47 and a beta of 1.82.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The business had revenue of $43.90 million for the quarter, compared to analyst estimates of $41.01 million. During the same quarter in the previous year, the firm earned ($1.17) earnings per share. The company’s revenue was up 58.5% on a year-over-year basis. Sell-side analysts expect that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Institutional Trading of SiTime

Several large investors have recently bought and sold shares of SITM. Algert Global LLC acquired a new stake in shares of SiTime during the second quarter worth $2,380,000. Driehaus Capital Management LLC acquired a new stake in SiTime during the 2nd quarter worth about $16,831,000. The Manufacturers Life Insurance Company grew its stake in SiTime by 9.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,200 shares of the company’s stock valued at $1,269,000 after purchasing an additional 898 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of SiTime in the second quarter valued at about $819,000. Finally, Marshall Wace LLP raised its stake in shares of SiTime by 381.4% in the second quarter. Marshall Wace LLP now owns 60,650 shares of the company’s stock worth $7,544,000 after purchasing an additional 48,051 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SITM. Stifel Nicolaus raised their price objective on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a research report on Tuesday, August 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of SiTime in a research report on Tuesday, June 25th.

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.