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

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,002 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $216.85, for a total value of $217,283.70. Following the completion of the transaction, the insider now directly owns 102,683 shares in the company, valued at $22,266,808.55. The trade was a 0.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, November 25th, Fariborz Assaderaghi sold 363 shares of SiTime stock. The shares were 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.
• 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 value of $140,420.00.

SiTime Trading Up 1.9 %

Shares of NASDAQ SITM opened at $223.42 on Thursday. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $229.64. The stock has a 50 day moving average of $191.26 and a 200-day moving average of $155.03.

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

Institutional Trading of SiTime

Several hedge funds have recently added to or reduced their stakes in the company. LMR Partners LLP raised its holdings in SiTime by 705.0% in the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after acquiring an additional 70,500 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of SiTime by 8.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 38,743 shares of the company’s stock worth $4,819,000 after buying an additional 2,861 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of SiTime during the 2nd quarter worth $16,831,000. Creative Planning acquired a new position in shares of SiTime during the 3rd quarter worth $842,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of SiTime during the 2nd quarter worth $647,000. 84.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SITM has been the topic of a number of recent research reports. Roth Mkm lifted their target price on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC lifted 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. Barclays lifted their target price on SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus raised their price target on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th.

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.