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

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,288 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $90.57, for a total value of $116,654.16. Following the sale, the insider now owns 111,491 shares of the company’s stock, valued at $10,097,739.87. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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 value 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 value of $119,395.62.

SiTime Price Performance

SiTime stock traded up $2.14 during trading on Thursday, reaching $93.23. 134,671 shares of the company were exchanged, compared to its average volume of 203,572. SiTime Co. has a 52-week low of $81.09 and a 52-week high of $142.35. The company has a market capitalization of $2.12 billion, a P/E ratio of -25.56 and a beta of 1.79. The stock’s 50 day simple moving average is $103.07 and its two-hundred day simple moving average is $109.79.

SiTime (NASDAQ:SITM) last posted its 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 business had revenue of $42.40 million during the quarter, compared to analysts’ expectations of $41.65 million. As a group, equities analysts forecast that SiTime Co. will post -2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On SiTime

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITM. Mackenzie Financial Corp grew its stake in shares of SiTime by 8.1% in the first quarter. Mackenzie Financial Corp now owns 811 shares of the company’s stock valued at $201,000 after buying an additional 61 shares in the last quarter. Yousif Capital Management LLC grew its stake in SiTime by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 8,554 shares of the company’s stock worth $1,044,000 after purchasing an additional 95 shares in the last quarter. Bessemer Group Inc. grew its stake in SiTime by 20.0% during the 2nd quarter. Bessemer Group Inc. now owns 594 shares of the company’s stock worth $70,000 after purchasing an additional 99 shares in the last quarter. Amalgamated Bank grew its stake in SiTime by 1.5% during the 3rd quarter. Amalgamated Bank now owns 7,606 shares of the company’s stock worth $869,000 after purchasing an additional 113 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in SiTime by 2.5% during the 3rd quarter. Arizona State Retirement System now owns 4,687 shares of the company’s stock worth $535,000 after buying an additional 115 shares during the last quarter. 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.