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

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,002 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $216.85, for a total value of $217,283.70. Following the transaction, the insider now owns 102,683 shares in the company, valued at approximately $22,266,808.55. This trade represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, November 25th, Fariborz Assaderaghi sold 363 shares of SiTime stock. The stock was 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 stock was sold at an average price of $140.00, for a total value of $140,420.00.

SiTime Stock Down 1.7 %

Shares of SITM stock opened at $219.52 on Friday. The stock has a market cap of $5.13 billion, a PE ratio of -53.02 and a beta of 1.86. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $229.64. The business has a 50-day simple moving average of $192.14 and a 200-day simple moving average of $155.48.

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 analysts’ consensus estimates of $0.26 by $0.14. The company 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%. SiTime’s quarterly revenue was up 62.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.81) EPS. Sell-side analysts anticipate that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SiTime

A number of large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new position in SiTime in the 3rd quarter worth about $166,000. Virtu Financial LLC purchased a new stake in SiTime during the 3rd quarter worth approximately $204,000. Geode Capital Management LLC increased its stake in SiTime by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock worth $75,637,000 after buying an additional 15,759 shares in the last quarter. Barclays PLC increased its stake in SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company’s stock worth $6,515,000 after buying an additional 16,964 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in SiTime by 6.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 17,960 shares of the company’s stock worth $3,080,000 after buying an additional 1,039 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Analyst Ratings Changes

SITM has been the subject of a number of research reports. Roth Mkm lifted their price target 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 price objective on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Needham & Company LLC boosted their price objective on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Barclays boosted their price objective on SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a report on Friday, November 8th.

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.