SiTime (NASDAQ:SITM) Insider Sells $702,900.00 in Stock

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,000 shares of the business’s stock in a transaction 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 sale, the insider owned 78,936 shares of the company’s stock, valued at approximately $55,484,114.40. The trade was a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 Price Performance

SITM stock opened at $625.68 on Monday. SiTime Corporation has a 1-year low of $186.49 and a 1-year high of $901.81. The firm has a fifty day moving average price of $582.71 and a two-hundred day moving average price of $437.89. The firm has a market cap of $16.52 billion, a price-to-earnings ratio of -619.49 and a beta of 2.94.

SiTime (NASDAQ:SITM) last released its earnings results 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. 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 during the quarter, compared to analyst estimates of $103.51 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 88.3% compared to the same quarter last year. As a group, analysts expect that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SITM. Stifel Nicolaus boosted their price target on shares of SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Roth Mkm reissued a “buy” rating and set a $900.00 price target on shares of SiTime in a report on Thursday, May 7th. The Goldman Sachs Group reissued a “buy” rating and set a $800.00 price target on shares of SiTime in a report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. Finally, Needham & Company LLC boosted their price target on shares of SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $661.88.

Institutional Investors Weigh In On SiTime

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its holdings in SiTime by 3.9% in the fourth quarter. Principal Financial Group Inc. now owns 363,953 shares of the company’s stock worth $128,545,000 after purchasing an additional 13,577 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in SiTime by 145.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 12,215 shares of the company’s stock worth $3,681,000 after purchasing an additional 7,247 shares during the period. Cibc World Market Inc. acquired a new stake in SiTime in the third quarter worth about $2,259,000. Royce & Associates LP lifted its holdings in SiTime by 95.0% in the third quarter. Royce & Associates LP now owns 54,476 shares of the company’s stock worth $16,414,000 after purchasing an additional 26,538 shares during the period. Finally, Portolan Capital Management LLC acquired a new stake in SiTime in the third quarter worth about $4,671,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

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.