Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells 363 Shares of Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 363 shares of SiTime stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $216.25, for a total value of $78,498.75. Following the completion of the transaction, the insider now directly owns 104,322 shares of the company’s stock, valued at approximately $22,559,632.50. This represents a 0.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 Up 3.7 %

SiTime stock opened at $212.38 on Friday. The business has a 50-day simple moving average of $187.98 and a two-hundred day simple moving average of $152.93. The company has a market cap of $4.96 billion, a P/E ratio of -51.30 and a beta of 1.83. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $228.12.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co grew its stake in shares of SiTime by 31.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company’s stock valued at $1,712,000 after acquiring an additional 4,410 shares during the period. Swedbank AB bought a new position in shares of SiTime during the 1st quarter valued at approximately $2,144,000. LMR Partners LLP grew its stake in shares of SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after acquiring an additional 70,500 shares during the period. Vanguard Group Inc. grew its stake in shares of SiTime by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after acquiring an additional 85,800 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in shares of SiTime by 8.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 38,743 shares of the company’s stock valued at $4,819,000 after acquiring an additional 2,861 shares during the period. 84.31% of the stock is currently owned by institutional investors.

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.