SiTime Co. (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 363 Shares

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 363 shares of SiTime stock in a transaction on Monday, November 25th. The stock was sold at an average price of $216.25, for a total transaction of $78,498.75. Following the sale, the insider now directly owns 104,322 shares of the company’s stock, valued at $22,559,632.50. This represents a 0.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 transaction 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 transaction 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.

SiTime Stock Performance

Shares of SITM stock traded down $4.74 on Wednesday, hitting $205.02. The stock had a trading volume of 164,014 shares, compared to its average volume of 203,580. The business has a 50 day moving average of $185.31 and a 200 day moving average of $151.58. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $228.12.

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

Hedge Funds Weigh In On SiTime

Several hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC lifted its stake in shares of SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of SiTime by 59.5% in the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after buying an additional 88 shares during the last quarter. GAMMA Investing LLC raised 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 worth $47,000 after buying an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in SiTime in the 2nd quarter worth approximately $49,000. Finally, Van ECK Associates Corp bought a new position in SiTime during the third quarter valued at approximately $123,000. 84.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on SITM. Barclays increased their price target on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Needham & Company LLC increased their price objective on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Roth Mkm upped their price objective on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus raised their target price on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 17th.

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.