Fariborz Assaderaghi Sells 4,984 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 4,984 shares of the firm’s stock in a transaction on 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 sale, the insider owned 89,194 shares of the company’s stock, valued at approximately $36,252,901.30. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were 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 Trading Up 3.3%

SITM stock opened at $418.17 on Thursday. The stock has a market cap of $11.00 billion, a PE ratio of -229.76 and a beta of 2.51. SiTime Corporation has a 12 month low of $105.40 and a 12 month high of $446.95. The company has a 50-day moving average price of $375.66 and a 200 day moving average price of $315.89.

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Barclays set a $400.00 target price on SiTime in a research note on Thursday, February 5th. UBS Group upped their price target on shares of SiTime from $430.00 to $485.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Loop Capital began coverage on shares of SiTime in a research note on Friday, November 21st. They issued a “buy” rating and a $350.00 price target on the stock. Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Roth Mkm restated a “buy” rating and issued a $450.00 target price on shares of SiTime in a research note on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $409.38.

Institutional Trading of SiTime

Institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. bought a new position in SiTime during the 2nd quarter worth about $64,873,000. Norges Bank bought a new stake in shares of SiTime in the 4th quarter valued at about $83,977,000. Whale Rock Capital Management LLC lifted its position in shares of SiTime by 45.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock worth $246,717,000 after purchasing an additional 218,038 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of SiTime by 61.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 562,892 shares of the company’s stock valued at $198,808,000 after purchasing an additional 213,242 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of SiTime during the fourth quarter valued at approximately $59,452,000. 84.31% of the stock is currently 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.