Insider Selling: SiTime (NASDAQ:SITM) Insider Sells 500 Shares of Stock

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 500 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $416.06, for a total transaction of $208,030.00. Following the transaction, the insider directly owned 100,049 shares in the company, valued at approximately $41,626,386.94. This represents a 0.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, February 11th, Fariborz Assaderaghi sold 2,112 shares of SiTime stock. The shares were sold at an average price of $428.08, for a total transaction of $904,104.96.
• On Monday, December 1st, Fariborz Assaderaghi sold 1,500 shares of SiTime stock. The stock was sold at an average price of $291.58, for a total value of $437,370.00.

SiTime Trading Down 3.0%

Shares of SITM traded down $13.08 during trading hours on Thursday, hitting $423.20. The stock had a trading volume of 383,299 shares, compared to its average volume of 351,941. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $446.96. The company’s fifty day simple moving average is $367.66 and its 200 day simple moving average is $301.88.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.20 by $0.33. The company had revenue of $113.29 million during the quarter, compared to analyst estimates of $101.91 million. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The firm’s revenue was up 66.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 earnings per share. On average, equities research analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current year.

Hedge Funds Weigh In On SiTime

Several institutional investors and hedge funds have recently made changes to their positions in SITM. Rakuten Securities Inc. increased its stake in shares of SiTime by 188.5% in the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after buying an additional 49 shares during the last quarter. Optiver Holding B.V. grew its holdings in SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after acquiring an additional 32 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in SiTime by 190.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of SiTime by 3,200.0% in the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 96 shares in the last quarter. Finally, Danske Bank A S bought a new position in shares of SiTime during the fourth quarter worth about $35,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on SITM. UBS Group boosted their price objective on shares of SiTime from $430.00 to $485.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Barclays set a $400.00 price target on shares of SiTime in a research report on Thursday, February 5th. The Goldman Sachs Group started coverage on SiTime in a research report on Monday, December 15th. They issued a “buy” rating and a $420.00 price objective on the stock. Stifel Nicolaus set a $450.00 target price on SiTime in a research report on Thursday, February 5th. Finally, Needham & Company LLC increased their target price on SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $409.38.

About SiTime

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.