SiTime Co. (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 1,003 Shares

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.13, for a total value of $165,625.39. Following the completion of the transaction, the insider now directly owns 110,578 shares of the company’s stock, valued at approximately $18,259,745.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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 transaction of $140,420.00.
• On Wednesday, August 28th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The shares were sold at an average price of $139.05, for a total value of $150,591.15.
• On Monday, July 29th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The stock was sold at an average price of $143.31, for a total value of $155,204.73.

SiTime Stock Up 0.8 %

SITM traded up $1.37 during trading on Wednesday, hitting $169.62. The company’s stock had a trading volume of 118,542 shares, compared to its average volume of 209,967. SiTime Co. has a one year low of $72.39 and a one year high of $181.00. The business’s 50 day simple moving average is $142.61 and its 200-day simple moving average is $123.07. The firm has a market cap of $3.88 billion, a PE ratio of -40.74 and a beta of 1.82.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The business had revenue of $43.90 million during the quarter, compared to analysts’ expectations of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The business’s quarterly revenue was up 58.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.17) earnings per share. Equities research analysts expect that SiTime Co. will post -3.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on SITM. Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a research note on Tuesday, August 27th. Stifel Nicolaus increased their price target on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of SiTime in a report on Tuesday, June 25th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SITM. Norges Bank purchased a new stake in SiTime in the 4th quarter worth $12,662,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of SiTime by 73.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $2,750,000 after buying an additional 12,500 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in SiTime by 31.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company’s stock valued at $1,712,000 after buying an additional 4,410 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in SiTime during the 1st quarter valued at approximately $363,000. Finally, Swedbank AB bought a new stake in SiTime in the 1st quarter worth approximately $2,144,000. 84.31% of the stock is currently owned by institutional investors.

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.