Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells 1,000 Shares of Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,000 shares of SiTime stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.16, for a total value of $210,160.00. Following the completion of the sale, the insider now directly owns 108,574 shares in the company, valued at $22,817,911.84. This represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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.
• 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 value of $140,420.00.
• On Wednesday, August 28th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The stock was sold at an average price of $139.05, for a total value of $150,591.15.

SiTime Trading Up 0.9 %

Shares of NASDAQ:SITM traded up $1.83 during trading on Thursday, reaching $210.50. 174,561 shares of the stock were exchanged, compared to its average volume of 204,104. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $228.12. The firm has a market cap of $4.92 billion, a PE ratio of -50.40 and a beta of 1.83. The stock has a 50-day moving average price of $180.17 and a 200-day moving average price of $148.36.

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, topping analysts’ consensus estimates of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The company had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. During the same quarter in the previous year, the company posted ($0.81) earnings per share. The business’s revenue was up 62.4% on a year-over-year basis. On average, sell-side analysts expect that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SITM has been the subject of a number of research analyst reports. Barclays lifted their price target on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Needham & Company LLC lifted their price target on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Roth Mkm lifted their price target on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus lifted their price target on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 17th.

Institutional Investors Weigh In On SiTime

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC boosted its stake in shares of SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after buying an additional 60 shares during the period. Nisa Investment Advisors LLC boosted 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 valued at $29,000 after buying an additional 88 shares during the period. GAMMA Investing LLC boosted its stake in shares of SiTime by 281.0% in the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after buying an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of SiTime in the second quarter valued at approximately $49,000. Finally, Van ECK Associates Corp bought a new stake in shares of SiTime in the third quarter valued at approximately $123,000. 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.