Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells 5,112 Shares of Stock

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 5,112 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $205.53, for a total value of $1,050,669.36. Following the transaction, the insider now directly owns 107,204 shares in the company, valued at $22,033,638.12. This represents a 4.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, May 8th, Fariborz Assaderaghi sold 1,268 shares of SiTime stock. The stock was sold at an average price of $184.92, for a total value of $234,478.56.
• On Tuesday, April 29th, Fariborz Assaderaghi sold 1,267 shares of SiTime stock. The shares were sold at an average price of $147.80, for a total transaction of $187,262.60.

SiTime Stock Down 2.6%

Shares of NASDAQ SITM opened at $201.12 on Thursday. SiTime Co. has a 52 week low of $105.40 and a 52 week high of $268.18. The business’s 50 day moving average price is $160.54 and its 200 day moving average price is $190.94. The firm has a market cap of $4.77 billion, a P/E ratio of -49.66 and a beta of 2.24.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.11 by $0.15. The business had revenue of $60.31 million during the quarter, compared to analysts’ expectations of $54.01 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The business’s quarterly revenue was up 82.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) EPS. As a group, research analysts expect that SiTime Co. will post -2.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITM. Barclays PLC raised its stake in shares of SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after buying an additional 16,964 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of SiTime by 39.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 1,915 shares of the company’s stock worth $411,000 after buying an additional 537 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in SiTime by 601.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,318 shares of the company’s stock worth $283,000 after acquiring an additional 1,130 shares during the period. Blue Trust Inc. raised its position in SiTime by 118.0% during the fourth quarter. Blue Trust Inc. now owns 327 shares of the company’s stock valued at $70,000 after acquiring an additional 177 shares in the last quarter. Finally, KBC Group NV raised its position in SiTime by 3.0% during the fourth quarter. KBC Group NV now owns 6,402 shares of the company’s stock valued at $1,373,000 after acquiring an additional 184 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on SITM shares. Needham & Company LLC lifted their target price on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Raymond James reiterated an “outperform” rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Barclays boosted their price objective on shares of SiTime from $110.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus raised their target price on SiTime from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SiTime has a consensus rating of “Moderate Buy” and an average price target of $215.00.

About SiTime

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.