Fariborz Assaderaghi Sells 1,003 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,003 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total value of $205,033.26. Following the transaction, the insider now owns 99,678 shares of the company’s stock, valued at approximately $20,376,176.76. The trade was a 1.00 % 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 this hyperlink.

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

• On Thursday, January 2nd, Fariborz Assaderaghi sold 1,002 shares of SiTime stock. The shares were sold at an average price of $220.94, for a total transaction of $221,381.88.
• On Tuesday, December 10th, Fariborz Assaderaghi sold 1,000 shares of SiTime stock. The stock was sold at an average price of $249.42, for a total transaction of $249,420.00.
• 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 transaction 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 value of $210,160.00.

SiTime Stock Performance

Shares of SiTime stock opened at $176.32 on Friday. The business has a fifty day simple moving average of $228.56 and a 200-day simple moving average of $186.46. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The company had revenue of $57.70 million during the quarter, compared to analyst estimates of $55.10 million. During the same quarter last year, the firm posted ($0.81) EPS. The business’s revenue for the quarter was up 62.4% on a year-over-year basis. Sell-side analysts forecast that SiTime Co. will post -2.98 EPS for the current year.

Analyst Upgrades and Downgrades

SITM has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC lifted their price objective on shares of SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday. Roth Mkm upped their price objective on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Raymond James reissued an “outperform” rating and set a $250.00 target price (up previously from $215.00) on shares of SiTime in a research note on Thursday. Finally, Barclays upped their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $232.00.

Institutional Trading of SiTime

Several institutional investors and hedge funds have recently added to or reduced their stakes in SITM. The Manufacturers Life Insurance Company increased its holdings in shares of SiTime by 9.7% in the second quarter. The Manufacturers Life Insurance Company now owns 10,200 shares of the company’s stock valued at $1,269,000 after buying an additional 898 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of SiTime during the third quarter worth $878,000. Handelsbanken Fonder AB lifted its holdings in shares of SiTime by 17.7% during the third quarter. Handelsbanken Fonder AB now owns 5,984 shares of the company’s stock valued at $1,026,000 after purchasing an additional 900 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of SiTime by 95.0% in the 3rd quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock valued at $127,000 after purchasing an additional 362 shares during the period. Finally, Creative Planning purchased a new position in SiTime in the 3rd quarter worth about $842,000. 84.31% of the stock is owned by institutional investors and hedge funds.

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.