Fariborz Assaderaghi Sells 1,083 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,083 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $121.61, for a total value of $131,703.63. Following the completion of the sale, the insider now owns 104,186 shares in the company, valued at approximately $12,670,059.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, April 26th, Fariborz Assaderaghi sold 1,288 shares of SiTime stock. The shares were sold at an average price of $84.25, for a total value of $108,514.00.

SiTime Price Performance

SITM opened at $124.38 on Friday. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $141.99. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -30.12 and a beta of 1.83. The business has a fifty day moving average price of $114.26 and a 200 day moving average price of $108.03.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.17). The business had revenue of $33.02 million for the quarter, compared to analyst estimates of $32.02 million. SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. On average, research analysts anticipate that SiTime Co. will post -2.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of SiTime in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, SiTime presently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. raised its stake in SiTime by 220.2% during the 3rd quarter. Invesco Ltd. now owns 198,296 shares of the company’s stock valued at $22,655,000 after acquiring an additional 136,367 shares during the last quarter. Norges Bank purchased a new position in shares of SiTime during the 4th quarter worth approximately $12,662,000. Brown Advisory Inc. raised its stake in shares of SiTime by 125.1% during the 4th quarter. Brown Advisory Inc. now owns 155,947 shares of the company’s stock worth $19,038,000 after buying an additional 86,675 shares in the last quarter. Vanguard Group Inc. raised 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 worth $205,412,000 after buying an additional 85,800 shares in the last quarter. Finally, Roubaix Capital LLC purchased a new position in shares of SiTime during the 1st quarter worth approximately $5,288,000. 84.31% of the stock is owned by institutional investors and hedge funds.

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.