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

SiTime Co. (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,288 shares of SiTime stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $84.25, for a total transaction of $108,514.00. Following the completion of the transaction, the insider now owns 110,203 shares of the company’s stock, valued at approximately $9,284,602.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, March 27th, Fariborz Assaderaghi sold 1,288 shares of SiTime stock. The stock was sold at an average price of $90.57, for a total transaction of $116,654.16.
• On Thursday, February 29th, Fariborz Assaderaghi sold 1,026 shares of SiTime stock. The stock was sold at an average price of $92.33, for a total transaction of $94,730.58.

SiTime Trading Down 1.4 %

Shares of NASDAQ:SITM opened at $89.12 on Wednesday. The company has a 50 day moving average of $88.42 and a 200 day moving average of $104.94. The stock has a market cap of $2.04 billion, a P/E ratio of -24.55 and a beta of 1.78. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $141.99.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The firm had revenue of $42.40 million for the quarter, compared to analysts’ expectations of $41.65 million. SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. On average, equities analysts forecast that SiTime Co. will post -2.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SiTime

Several hedge funds have recently bought and sold shares of SITM. Pineridge Advisors LLC bought a new stake in SiTime during the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC lifted its position in SiTime by 78.2% during the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock valued at $41,000 after purchasing an additional 147 shares during the last quarter. Nemes Rush Group LLC lifted its position in SiTime by 26.9% during the fourth quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock valued at $66,000 after purchasing an additional 115 shares during the last quarter. Amica Retiree Medical Trust lifted its position in SiTime by 479.5% during the third quarter. Amica Retiree Medical Trust now owns 649 shares of the company’s stock valued at $74,000 after purchasing an additional 537 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in SiTime by 35.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock valued at $84,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

SITM has been the subject of several recent research reports. Stifel Nicolaus lifted their target price on shares of SiTime from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Barclays lifted their target price on shares of SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.00.

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.