Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells 1,000 Shares of Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $201.36, for a total transaction of $201,360.00. Following the transaction, the insider now owns 101,319 shares of the company’s stock, valued at $20,401,593.84. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, May 19th, Fariborz Assaderaghi sold 5,112 shares of SiTime stock. The shares were sold at an average price of $205.53, for a total value of $1,050,669.36.
• On Thursday, May 8th, Fariborz Assaderaghi sold 1,268 shares of SiTime stock. The shares were sold at an average price of $184.92, for a total transaction of $234,478.56.
• 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 transaction of $187,262.60.

SiTime Price Performance

Shares of SITM stock opened at $215.60 on Thursday. The business has a 50 day simple moving average of $172.10 and a 200 day simple moving average of $190.92. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of -53.23 and a beta of 2.24. SiTime Co. has a 12-month low of $105.40 and a 12-month high of $268.18.

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

Analyst Ratings Changes

A number of analysts recently weighed in on SITM shares. Barclays lifted their price target on SiTime from $135.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday. Stifel Nicolaus increased their target price on SiTime from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, SiTime has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Hedge Funds Weigh In On SiTime

A number of hedge funds have recently modified their holdings of the stock. Mutual of America Capital Management LLC raised its position in SiTime by 1.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company’s stock valued at $615,000 after buying an additional 48 shares during the period. State of Alaska Department of Revenue lifted its position in shares of SiTime by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company’s stock worth $2,307,000 after buying an additional 57 shares during the last quarter. Blue Trust Inc. lifted its holdings in SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after purchasing an additional 67 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of SiTime by 4.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company’s stock worth $417,000 after buying an additional 83 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in SiTime by 33.6% during the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after acquiring an additional 88 shares during the period. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.