SiTime Co. (NASDAQ:SITM) Insider Sells $249,420.00 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $249.42, for a total value of $249,420.00. Following the sale, the insider now owns 101,683 shares in the company, valued at approximately $25,361,773.86. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 transaction 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.
• On Tuesday, October 1st, Fariborz Assaderaghi sold 1,003 shares of SiTime stock. The shares were sold at an average price of $165.13, for a total value of $165,625.39.

SiTime Stock Down 1.9 %

Shares of SITM stock opened at $252.61 on Friday. The firm has a market capitalization of $5.90 billion, a P/E ratio of -61.02 and a beta of 1.86. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18. The stock’s fifty day simple moving average is $201.30 and its 200 day simple moving average is $160.67.

SiTime (NASDAQ:SITM) last announced its earnings results 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 company had revenue of $57.70 million for 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%. SiTime’s quarterly revenue was up 62.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.81) earnings per share. As a group, equities research analysts expect that SiTime Co. will post -2.98 EPS for the current fiscal year.

Institutional Trading of SiTime

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC grew its position in shares of SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after buying an additional 60 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of SiTime by 59.5% in the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of SiTime during the second quarter valued at approximately $49,000. Van ECK Associates Corp purchased a new position in SiTime during the 3rd quarter valued at approximately $123,000. Finally, GAMMA Investing LLC raised its position in shares of SiTime by 95.0% during the 3rd quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock valued at $127,000 after buying an additional 362 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SITM shares. Needham & Company LLC upped their target price on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Roth Mkm lifted their price objective on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report 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 boosted their price objective on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research report on Friday, November 8th.

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.