Fariborz Assaderaghi Sells 1,000 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.16, for a total value of $210,160.00. Following the completion of the transaction, the insider now directly owns 108,574 shares of the company’s stock, valued at approximately $22,817,911.84. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• 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.
• 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 midday trading on Thursday, hitting $210.50. The company had a trading volume of 174,561 shares, 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 stock has a market cap of $4.92 billion, a price-to-earnings ratio of -50.40 and a beta of 1.83. The firm has a fifty day simple moving average of $180.17 and a 200 day simple moving average of $148.36.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after acquiring an additional 88 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of SiTime by 281.0% in the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after purchasing an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of SiTime in the 2nd quarter valued at about $49,000. Finally, Van ECK Associates Corp acquired a new stake in shares of SiTime in the 3rd quarter valued at about $123,000. 84.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Roth Mkm raised their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC raised their price target on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus raised their price target on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th.

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.