Fariborz Assaderaghi Sells 1,000 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $702.90, for a total value of $702,900.00. Following the transaction, the insider owned 78,936 shares in the company, valued at approximately $55,484,114.40. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, May 29th, Fariborz Assaderaghi sold 1,500 shares of SiTime stock. The stock was sold at an average price of $712.72, for a total value of $1,069,080.00.
• On Friday, May 22nd, Fariborz Assaderaghi sold 1,709 shares of SiTime stock. The stock was sold at an average price of $731.49, for a total value of $1,250,116.41.

SiTime Stock Down 11.5%

Shares of SiTime stock traded down $81.30 on Friday, hitting $625.68. 695,542 shares of the company were exchanged, compared to its average volume of 596,429. The stock has a market capitalization of $16.52 billion, a price-to-earnings ratio of -619.49 and a beta of 2.94. The company has a 50-day moving average price of $582.71 and a 200 day moving average price of $436.70. SiTime Corporation has a 1-year low of $186.49 and a 1-year high of $901.81.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.30. The business had revenue of $113.57 million for the quarter, compared to analysts’ expectations of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The business’s revenue for the quarter was up 88.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS. Research analysts forecast that SiTime Corporation will post 3.23 EPS for the current year.

Analyst Ratings Changes

SITM has been the topic of several recent research reports. Stifel Nicolaus boosted their target price on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Barclays upgraded SiTime from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $400.00 to $850.00 in a report on Thursday, May 7th. UBS Group boosted their target price on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Needham & Company LLC lifted their price target on shares of SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $900.00 price target on shares of SiTime in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, SiTime presently has an average rating of “Moderate Buy” and a consensus target price of $661.88.

Institutional Trading of SiTime

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of SiTime by 3.9% during the 4th quarter. Principal Financial Group Inc. now owns 363,953 shares of the company’s stock valued at $128,545,000 after buying an additional 13,577 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in shares of SiTime by 145.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,215 shares of the company’s stock valued at $3,681,000 after buying an additional 7,247 shares during the period. Cibc World Market Inc. purchased a new stake in shares of SiTime during the 3rd quarter valued at approximately $2,259,000. Royce & Associates LP raised its position in shares of SiTime by 95.0% during the 3rd quarter. Royce & Associates LP now owns 54,476 shares of the company’s stock valued at $16,414,000 after buying an additional 26,538 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of SiTime by 95.8% during the 3rd quarter. HighTower Advisors LLC now owns 30,368 shares of the company’s stock valued at $9,151,000 after buying an additional 14,859 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Company Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.