SiTime Co. (NASDAQ:SITM) Insider Sells $131,703.63 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,083 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $121.61, for a total value of $131,703.63. Following the transaction, the insider now owns 104,186 shares of the company’s stock, valued at $12,670,059.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Friday, April 26th, Fariborz Assaderaghi sold 1,288 shares of SiTime stock. The shares were sold at an average price of $84.25, for a total value of $108,514.00.

SiTime Stock Performance

Shares of SITM opened at $124.38 on Friday. The stock has a 50-day simple moving average of $114.26 and a 200-day simple moving average of $108.00. The stock has a market capitalization of $2.84 billion, a PE ratio of -30.12 and a beta of 1.83. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $141.99.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 8th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.17). SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. The business had revenue of $33.02 million for the quarter, compared to analyst estimates of $32.02 million. Analysts predict that SiTime Co. will post -2.66 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of SiTime in a research note on Tuesday, June 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $140.00.

Institutional Investors Weigh In On SiTime

Several hedge funds and other institutional investors have recently made changes to their positions in SITM. Pineridge Advisors LLC acquired a new stake in shares of SiTime during the 4th quarter worth about $25,000. Quadrant Capital Group LLC raised its position in shares of SiTime by 78.2% during the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after acquiring an additional 147 shares in the last quarter. Nemes Rush Group LLC raised its position in shares of SiTime by 26.9% during the 4th quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after acquiring an additional 115 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of SiTime by 35.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock worth $84,000 after acquiring an additional 180 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of SiTime by 24.4% during the 4th quarter. Assetmark Inc. now owns 781 shares of the company’s stock worth $95,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds 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.