Fariborz Assaderaghi Sells 1,500 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,500 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $712.72, for a total value of $1,069,080.00. Following the completion of the sale, the insider directly owned 79,936 shares of the company’s stock, valued at approximately $56,971,985.92. The trade was a 1.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 value of $1,250,116.41.

SiTime Trading Up 1.7%

Shares of SITM stock opened at $712.75 on Thursday. The stock has a market cap of $18.82 billion, a price-to-earnings ratio of -705.69 and a beta of 2.94. The stock has a 50-day moving average of $570.24 and a 200-day moving average of $432.38. SiTime Corporation has a 1-year low of $186.49 and a 1-year high of $901.81.

SiTime (NASDAQ:SITM) last issued its quarterly 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. The company had revenue of $113.57 million during the quarter, compared to analysts’ expectations of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The business’s quarterly revenue was up 88.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. Sell-side analysts forecast that SiTime Corporation will post 3.23 earnings per share for the current year.

Wall Street Analyst Weigh In

SITM has been the topic of several research analyst reports. Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. The Goldman Sachs Group restated a “buy” rating and set a $800.00 target price on shares of SiTime in a research report on Thursday, May 7th. Stifel Nicolaus upped their target price on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. Finally, Barclays upgraded SiTime from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $400.00 to $850.00 in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $661.88.

Institutional Trading of SiTime

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SITM. Rakuten Securities Inc. increased its holdings in SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 49 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in SiTime by 190.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Optiver Holding B.V. increased its holdings in SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after purchasing an additional 32 shares in the last quarter. Parallel Advisors LLC increased its holdings in SiTime by 26.2% during the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 16 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 96 shares in the last quarter. 84.31% of the stock is owned by institutional investors.

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.