Insider Selling: SiTime (NASDAQ:SITM) Insider Sells $2,025,746.80 in Stock

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 4,984 shares of SiTime stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $406.45, for a total value of $2,025,746.80. Following the completion of the transaction, the insider directly owned 89,194 shares in the company, valued at $36,252,901.30. This represents a 5.29% decrease in their position. 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 Wednesday, February 11th, Fariborz Assaderaghi sold 2,112 shares of SiTime stock. The shares were sold at an average price of $428.08, for a total transaction of $904,104.96.
• On Tuesday, February 10th, Fariborz Assaderaghi sold 500 shares of SiTime stock. The stock was sold at an average price of $416.06, for a total transaction of $208,030.00.
• On Monday, December 1st, Fariborz Assaderaghi sold 1,500 shares of SiTime stock. The stock was sold at an average price of $291.58, for a total transaction of $437,370.00.

SiTime Stock Performance

Shares of NASDAQ:SITM opened at $397.86 on Friday. The firm has a 50 day simple moving average of $376.45 and a 200 day simple moving average of $316.46. SiTime Corporation has a 52 week low of $105.40 and a 52 week high of $446.95. The company has a market cap of $10.46 billion, a PE ratio of -218.60 and a beta of 2.51.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.33. The firm had revenue of $113.29 million for the quarter, compared to analysts’ expectations of $101.91 million. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The company’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 EPS. On average, equities analysts predict that SiTime Corporation will post -2.44 earnings per share for the current year.

Institutional Investors Weigh In On SiTime

Several institutional investors and hedge funds have recently modified their holdings of the business. Rakuten Securities Inc. raised its holdings in SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 49 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of SiTime by 190.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Optiver Holding B.V. raised its stake in shares of SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after acquiring an additional 32 shares in the last quarter. Larson Financial Group LLC lifted its holdings in SiTime by 3,200.0% in 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 during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in SiTime during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Analysts Set New Price Targets

SITM has been the subject of a number of research reports. Stifel Nicolaus set a $450.00 price objective on SiTime in a research report on Thursday, February 5th. Raymond James Financial reaffirmed an “outperform” rating on shares of SiTime in a research report on Tuesday, December 2nd. Loop Capital started coverage on shares of SiTime in a research report on Friday, November 21st. They issued a “buy” rating and a $350.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research note on Thursday, January 22nd. Finally, Barclays set a $400.00 price target on shares of SiTime in a research note on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $409.38.

SiTime Company Profile

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.