SiTime Co. (NASDAQ:SITM) Insider Sells $234,478.56 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,268 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $184.92, for a total value of $234,478.56. Following the transaction, the insider now directly owns 112,316 shares of the company’s stock, valued at $20,769,474.72. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, April 29th, Fariborz Assaderaghi sold 1,267 shares of SiTime stock. The stock was sold at an average price of $147.80, for a total value of $187,262.60.

SiTime Stock Performance

Shares of SITM opened at $190.01 on Monday. SiTime Co. has a one year low of $105.40 and a one year high of $268.18. The stock’s fifty day moving average is $154.37 and its 200-day moving average is $189.60. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of -46.92 and a beta of 2.24.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.11 by $0.15. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The firm had revenue of $60.31 million for the quarter, compared to analysts’ expectations of $54.01 million. During the same quarter last year, the company earned ($0.08) EPS. SiTime’s quarterly revenue was up 82.7% on a year-over-year basis. Analysts forecast that SiTime Co. will post -2.44 EPS for the current fiscal year.

Institutional Investors Weigh In On SiTime

A number of institutional investors have recently added to or reduced their stakes in SITM. GAMMA Investing LLC increased its position in shares of SiTime by 27,559.1% during the 1st quarter. GAMMA Investing LLC now owns 261,102 shares of the company’s stock valued at $39,915,000 after purchasing an additional 260,158 shares during the period. Invesco Ltd. boosted its stake in SiTime by 11.0% during the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock valued at $210,921,000 after buying an additional 97,062 shares in the last quarter. Hood River Capital Management LLC grew its holdings in SiTime by 27.0% during the fourth quarter. Hood River Capital Management LLC now owns 421,960 shares of the company’s stock worth $90,523,000 after acquiring an additional 89,632 shares during the period. Emerald Advisers LLC bought a new stake in SiTime in the fourth quarter worth about $18,673,000. Finally, Capital World Investors acquired a new stake in SiTime in the 4th quarter valued at about $17,654,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Raymond James reaffirmed an “outperform” rating and issued a $250.00 target price (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Needham & Company LLC increased their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Stifel Nicolaus boosted their target price on shares of SiTime from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Barclays upped their target price on shares of SiTime from $110.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SiTime has an average rating of “Moderate Buy” and a consensus target price of $215.00.

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.