Fariborz Assaderaghi Sells 1,709 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,709 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $731.49, for a total transaction of $1,250,116.41. Following the sale, the insider directly owned 81,436 shares in the company, valued at $59,569,619.64. The trade was a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SiTime Price Performance

SITM opened at $729.51 on Friday. SiTime Corporation has a fifty-two week low of $186.49 and a fifty-two week high of $901.81. The firm has a market capitalization of $19.26 billion, a price-to-earnings ratio of -722.29 and a beta of 2.91. The company’s 50 day moving average price is $541.89 and its two-hundred day moving average price is $421.35.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The firm had revenue of $113.57 million for the quarter, compared to analyst estimates of $103.51 million. During the same period in the previous year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 88.3% compared to the same quarter last year. As a group, equities research analysts predict that SiTime Corporation will post 3.23 EPS for the current year.

Wall Street Analyst Weigh In

SITM has been the topic of a number of research reports. UBS Group boosted their target price on shares of SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $800.00 price objective on shares of SiTime in a research note on Thursday, May 7th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $900.00 price objective on shares of SiTime in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $661.88.

Institutional Investors Weigh In On SiTime

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of SiTime by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock valued at $997,904,000 after purchasing an additional 61,336 shares during the last quarter. Invesco Ltd. boosted its stake in SiTime by 1.8% during the third quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock worth $312,550,000 after acquiring an additional 18,165 shares in the last quarter. State Street Corp boosted its stake in SiTime by 3.7% during the second quarter. State Street Corp now owns 911,280 shares of the company’s stock worth $194,176,000 after acquiring an additional 32,178 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after acquiring an additional 132,948 shares in the last quarter. Finally, Whale Rock Capital Management LLC boosted its stake in SiTime by 45.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock worth $246,717,000 after acquiring an additional 218,038 shares in the last quarter. 84.31% of the stock is owned by institutional investors.

SiTime Company Profile

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.