SiTime Co. (NASDAQ:SITM) Insider Sells $108,514.00 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,288 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $84.25, for a total value of $108,514.00. Following the transaction, the insider now owns 110,203 shares of the company’s stock, valued at $9,284,602.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, March 27th, Fariborz Assaderaghi sold 1,288 shares of SiTime stock. The stock was sold at an average price of $90.57, for a total value of $116,654.16.
• On Thursday, February 29th, Fariborz Assaderaghi sold 1,026 shares of SiTime stock. The stock was sold at an average price of $92.33, for a total value of $94,730.58.

SiTime Stock Performance

NASDAQ SITM opened at $87.28 on Thursday. The stock has a market capitalization of $2.00 billion, a P/E ratio of -24.04 and a beta of 1.78. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $141.99. The business’s fifty day moving average is $88.15 and its two-hundred day moving average is $104.81.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.01). SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. The company had revenue of $42.40 million during the quarter, compared to the consensus estimate of $41.65 million. On average, research analysts forecast that SiTime Co. will post -2.3 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Barclays upped their target price on SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, SiTime presently has an average rating of “Moderate Buy” and an average target price of $142.00.

Institutional Trading of SiTime

Several large investors have recently added to or reduced their stakes in SITM. Yousif Capital Management LLC increased its stake in shares of SiTime by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 8,554 shares of the company’s stock worth $1,044,000 after acquiring an additional 95 shares during the last quarter. Amalgamated Bank increased its stake in shares of SiTime by 1.5% in the third quarter. Amalgamated Bank now owns 7,606 shares of the company’s stock worth $869,000 after acquiring an additional 113 shares during the last quarter. Arizona State Retirement System boosted its holdings in SiTime by 2.5% in the third quarter. Arizona State Retirement System now owns 4,687 shares of the company’s stock worth $535,000 after purchasing an additional 115 shares in the last quarter. Nemes Rush Group LLC boosted its holdings in SiTime by 26.9% in the fourth quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after purchasing an additional 115 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in SiTime by 2.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,287 shares of the company’s stock worth $490,000 after purchasing an additional 120 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

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.