SiTime Co. (NASDAQ:SITM) Insider Sells $116,654.16 in Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,288 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total transaction of $116,654.16. Following the completion of the transaction, the insider now owns 111,491 shares of the company’s stock, valued at $10,097,739.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, February 29th, Fariborz Assaderaghi sold 1,026 shares of SiTime stock. The shares were sold at an average price of $92.33, for a total transaction of $94,730.58.
• On Monday, January 29th, Fariborz Assaderaghi sold 1,026 shares of SiTime stock. The shares were sold at an average price of $116.37, for a total transaction of $119,395.62.

SiTime Trading Up 2.3 %

Shares of SITM stock traded up $2.14 during trading hours on Thursday, hitting $93.23. 134,671 shares of the company’s stock were exchanged, compared to its average volume of 203,572. The company has a market capitalization of $2.12 billion, a PE ratio of -25.56 and a beta of 1.79. SiTime Co. has a 12-month low of $81.09 and a 12-month high of $142.35. The business’s 50 day simple moving average is $103.07 and its 200-day simple moving average is $109.79.

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

Analysts Set New Price Targets

Several brokerages have issued reports on SITM. Barclays lifted their target price on shares of SiTime from $110.00 to $130.00 and gave the company an “equal weight” rating in a research 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 research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $142.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SITM. Pineridge Advisors LLC purchased a new stake in SiTime in the 4th quarter worth approximately $25,000. Parkside Financial Bank & Trust lifted its stake in shares of SiTime by 99.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 305 shares of the company’s stock valued at $36,000 after purchasing an additional 152 shares during the period. Pinebridge Investments L.P. purchased a new position in shares of SiTime in the 2nd quarter valued at approximately $39,000. Quadrant Capital Group LLC lifted its stake in shares of SiTime by 78.2% in the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock valued at $41,000 after purchasing an additional 147 shares during the period. Finally, Macquarie Group Ltd. purchased a new position in shares of SiTime in the 1st quarter valued at approximately $50,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

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.