SiTime Co. (NASDAQ:SITM) Insider Sells $140,420.00 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $140.00, for a total value of $140,420.00. Following the completion of the sale, the insider now owns 111,581 shares of the company’s stock, valued at approximately $15,621,340. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, August 28th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The stock was 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 shares were sold at an average price of $143.31, for a total transaction of $155,204.73.
• On Wednesday, June 26th, Fariborz Assaderaghi sold 1,083 shares of SiTime stock. The stock was sold at an average price of $121.61, for a total transaction of $131,703.63.

SiTime Trading Up 3.5 %

Shares of NASDAQ SITM opened at $146.49 on Friday. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $165.11. The firm’s 50-day moving average price is $139.71 and its 200-day moving average price is $116.78. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -35.47 and a beta of 1.82.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.08. The business had revenue of $43.90 million during the quarter, compared to analyst estimates of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The company’s revenue for the quarter was up 58.5% on a year-over-year basis. During the same period last year, the company earned ($1.17) EPS. On average, equities analysts predict that SiTime Co. will post -3.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SITM. International Assets Investment Management LLC lifted its holdings in shares of SiTime by 12,108.0% in the 4th quarter. International Assets Investment Management LLC now owns 12,208 shares of the company’s stock worth $1,490,000 after acquiring an additional 12,108 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in SiTime by 7.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 142,439 shares of the company’s stock worth $17,389,000 after purchasing an additional 9,694 shares during the last quarter. Versor Investments LP purchased a new position in shares of SiTime during the fourth quarter valued at approximately $305,000. Dimensional Fund Advisors LP grew its stake in shares of SiTime by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock valued at $30,112,000 after buying an additional 35,491 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of SiTime by 0.5% in the fourth quarter. Principal Financial Group Inc. now owns 359,929 shares of the company’s stock worth $43,940,000 after buying an additional 1,912 shares during the period. Institutional investors own 84.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price target on shares of SiTime in a research note on Tuesday, June 25th. Barclays lowered 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. Finally, Stifel Nicolaus lifted their price objective on SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th.

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.