Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells $165,625.39 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.13, for a total value of $165,625.39. Following the sale, the insider now owns 110,578 shares of the company’s stock, valued at $18,259,745.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, September 11th, Fariborz Assaderaghi sold 1,003 shares of SiTime stock. The shares were sold at an average price of $140.00, for a total transaction of $140,420.00.
• On Wednesday, August 28th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The shares were sold at an average price of $139.05, for a total transaction of $150,591.15.
• On Monday, July 29th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The shares were sold at an average price of $143.31, for a total transaction of $155,204.73.

SiTime Trading Up 1.4 %

NASDAQ SITM opened at $179.39 on Friday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $182.45. The company has a market capitalization of $4.10 billion, a PE ratio of -43.44 and a beta of 1.82. The firm’s fifty day simple moving average is $144.34 and its 200-day simple moving average is $124.42.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The business had revenue of $43.90 million for the quarter, compared to the consensus estimate of $41.01 million. During the same period in the prior year, the business posted ($1.17) earnings per share. SiTime’s revenue for the quarter was up 58.5% compared to the same quarter last year. As a group, analysts predict that SiTime Co. will post -3.03 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on SITM shares. Barclays downgraded shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price on the stock. in a research note on Tuesday, August 27th. Stifel Nicolaus boosted their target price on shares of SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of SiTime in a research note on Tuesday, June 25th.

Institutional Investors Weigh In On SiTime

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in SiTime by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after purchasing an additional 85,800 shares in the last quarter. Wasatch Advisors LP boosted its holdings in SiTime by 2.9% in the fourth quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock worth $108,908,000 after purchasing an additional 25,324 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in SiTime by 15.2% in the second quarter. Principal Financial Group Inc. now owns 388,999 shares of the company’s stock worth $48,384,000 after purchasing an additional 51,407 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in SiTime by 62.0% in the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after purchasing an additional 79,648 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in SiTime by 0.9% in the first quarter. Jennison Associates LLC now owns 175,272 shares of the company’s stock worth $16,341,000 after purchasing an additional 1,502 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors.

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.