Fariborz Assaderaghi Sells 1,000 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $702.90, for a total transaction of $702,900.00. Following the completion of the transaction, the insider owned 78,936 shares in the company, valued at approximately $55,484,114.40. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Friday, May 29th, Fariborz Assaderaghi sold 1,500 shares of SiTime stock. The shares were sold at an average price of $712.72, for a total transaction of $1,069,080.00.
• On Friday, May 22nd, Fariborz Assaderaghi sold 1,709 shares of SiTime stock. The shares were sold at an average price of $731.49, for a total transaction of $1,250,116.41.

SiTime Stock Performance

SiTime stock opened at $625.68 on Friday. The firm has a market cap of $16.52 billion, a PE ratio of -619.49 and a beta of 2.94. The firm’s 50 day moving average price is $582.71 and its two-hundred day moving average price is $436.70. SiTime Corporation has a twelve month low of $186.49 and a twelve month high of $901.81.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.30. The firm had revenue of $113.57 million for the quarter, compared to analyst estimates of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The company’s revenue for the quarter was up 88.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. Equities analysts anticipate that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SITM. Rakuten Securities Inc. grew its stake in SiTime by 188.5% in the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 49 shares during the last quarter. Hantz Financial Services Inc. grew its stake in SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the last quarter. Optiver Holding B.V. grew its stake in SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after buying an additional 32 shares during the last quarter. Parallel Advisors LLC grew its stake in SiTime by 26.2% in the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock valued at $27,000 after buying an additional 16 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in 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 buying an additional 96 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SITM has been the topic of several research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $800.00 price objective on shares of SiTime in a research note on Thursday, May 7th. Stifel Nicolaus increased their price target on shares of SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. UBS Group increased their price target on shares of SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. Finally, Needham & Company LLC increased their price target on shares of SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, SiTime has a consensus rating of “Moderate Buy” and an average price target of $661.88.

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.