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

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

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

• On Wednesday, March 27th, Fariborz Assaderaghi sold 1,288 shares of SiTime stock. The stock was sold at an average price of $90.57, for a total transaction of $116,654.16.
• 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.

SiTime Trading Down 1.4 %

Shares of NASDAQ:SITM traded down $1.24 during mid-day trading on Tuesday, reaching $89.12. The stock had a trading volume of 177,065 shares, compared to its average volume of 206,467. The company has a market cap of $2.04 billion, a P/E ratio of -24.55 and a beta of 1.78. The business’s 50 day moving average price is $88.73 and its 200 day moving average price is $105.11. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $141.99.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate 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 business had revenue of $42.40 million for the quarter, compared to the consensus estimate of $41.65 million. Analysts predict that SiTime Co. will post -2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on SITM shares. Stifel Nicolaus upped their price objective on SiTime from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Barclays raised their price objective on SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Institutional Trading of SiTime

Several institutional investors and hedge funds have recently made changes to their positions in the business. Equitable Trust Co. bought a new position in shares of SiTime in the first quarter worth about $243,000. New Mexico Educational Retirement Board bought a new position in SiTime in the 1st quarter worth about $280,000. NBC Securities Inc. increased its position in shares of SiTime by 38.5% during the first quarter. NBC Securities Inc. now owns 4,915 shares of the company’s stock worth $458,000 after acquiring an additional 1,367 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of SiTime by 35.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock valued at $84,000 after acquiring an additional 180 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of SiTime by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 2,117,486 shares of the company’s stock valued at $258,503,000 after acquiring an additional 50,876 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors.

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.