Fariborz Assaderaghi Sells 1,288 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,288 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $84.25, for a total transaction of $108,514.00. Following the completion of the sale, the insider now directly owns 110,203 shares of the company’s stock, valued at $9,284,602.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, March 27th, Fariborz Assaderaghi sold 1,288 shares of SiTime stock. The shares were sold at an average price of $90.57, for a total value of $116,654.16.
• On Thursday, February 29th, Fariborz Assaderaghi sold 1,026 shares of SiTime stock. The stock was sold at an average price of $92.33, for a total value of $94,730.58.

SiTime Trading Down 1.4 %

Shares of NASDAQ:SITM traded down $1.24 on Tuesday, reaching $89.12. 177,065 shares of the company were exchanged, compared to its average volume of 206,467. The company has a 50-day moving average of $88.73 and a 200-day moving average of $105.11. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -24.55 and a beta of 1.78. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $141.99.

SiTime (NASDAQ:SITM) last issued its earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The company had revenue of $42.40 million during the quarter, compared to analysts’ expectations of $41.65 million. SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. As a group, analysts forecast that SiTime Co. will post -2.3 earnings per share for the current year.

Institutional Trading of SiTime

A number of institutional investors have recently bought and sold shares of the company. Yousif Capital Management LLC increased its position in shares of SiTime by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 8,554 shares of the company’s stock valued at $1,044,000 after buying an additional 95 shares in the last quarter. Amalgamated Bank boosted its position in shares of SiTime by 1.5% in the 3rd quarter. Amalgamated Bank now owns 7,606 shares of the company’s stock worth $869,000 after buying an additional 113 shares in the last quarter. Arizona State Retirement System grew its stake in SiTime by 2.5% in the 3rd quarter. Arizona State Retirement System now owns 4,687 shares of the company’s stock valued at $535,000 after acquiring an additional 115 shares during the last quarter. Nemes Rush Group LLC increased its holdings in SiTime by 26.9% during the 4th quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock valued at $66,000 after acquiring an additional 115 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in SiTime by 2.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 4,287 shares of the company’s stock worth $490,000 after acquiring an additional 120 shares during the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SITM has been the subject of several recent research reports. Barclays increased their price target on SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Stifel Nicolaus lifted their target price on shares of SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, SiTime has an average rating of “Moderate Buy” and a consensus target price of $142.00.

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.