Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells $221,381.88 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,002 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total transaction of $221,381.88. Following the transaction, the insider now directly owns 100,681 shares of the company’s stock, valued at $22,244,460.14. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $249.42, for a total value 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 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 transaction of $210,160.00.

SiTime Price Performance

Shares of SiTime stock opened at $234.35 on Monday. The business has a 50 day moving average price of $214.87 and a 200 day moving average price of $171.60. The company has a market capitalization of $5.47 billion, a P/E ratio of -56.61 and a beta of 1.82. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $268.18.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. The business had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business’s revenue was up 62.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.81) earnings per share. As a group, research analysts expect that SiTime Co. will post -2.98 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On SiTime

A number of hedge funds and other institutional investors have recently modified their holdings of SITM. FMR LLC lifted its stake in shares of SiTime by 1.1% during the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock valued at $595,113,000 after buying an additional 39,119 shares during the period. State Street Corp lifted its stake in shares of SiTime by 3.1% during the 3rd quarter. State Street Corp now owns 922,974 shares of the company’s stock worth $158,299,000 after purchasing an additional 27,692 shares during the period. Principal Financial Group Inc. lifted its stake in shares of SiTime by 15.4% during the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after purchasing an additional 59,931 shares during the period. Geode Capital Management LLC boosted its holdings in shares of SiTime by 3.7% during the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock worth $75,637,000 after purchasing an additional 15,759 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of SiTime by 62.0% in the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after purchasing an additional 79,648 shares during the period. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

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.