SiTime (NASDAQ:SITM) Insider Fariborz Assaderaghi Sells 1,709 Shares

SiTime Corporation (NASDAQ:SITM) insider Fariborz Assaderaghi sold 1,709 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $731.49, for a total value of $1,250,116.41. Following the completion of the sale, the insider owned 81,436 shares of the company’s stock, valued at approximately $59,569,619.64. This represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SiTime Price Performance

Shares of SITM opened at $726.21 on Thursday. The stock has a 50-day moving average of $534.22 and a 200-day moving average of $418.52. The company has a market cap of $19.17 billion, a PE ratio of -719.02 and a beta of 2.91. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 6th. The company reported $1.44 EPS 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 the consensus estimate of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The firm’s revenue for the quarter was up 88.3% compared to the same quarter last year. During the same period last year, the business posted $0.26 EPS. Analysts expect that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Hedge Funds Weigh In On SiTime

Several hedge funds have recently modified their holdings of the company. Parallel Advisors LLC lifted its position in shares of SiTime by 26.2% during the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after buying an additional 16 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of SiTime by 0.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock worth $3,187,000 after buying an additional 25 shares in the last quarter. Optiver Holding B.V. lifted its position in shares of 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 buying an additional 32 shares in the last quarter. Atlas Brown Inc. lifted its position in shares of SiTime by 1.6% during the 4th quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock worth $810,000 after buying an additional 37 shares in the last quarter. Finally, CWM LLC lifted its position in shares of SiTime by 4.2% during the 4th quarter. CWM LLC now owns 951 shares of the company’s stock worth $336,000 after buying an additional 38 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SITM. UBS Group raised their price target on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Barclays raised shares of SiTime from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $400.00 to $850.00 in a research report on Thursday, May 7th. Roth Mkm reaffirmed a “buy” rating and issued a $900.00 price target on shares of SiTime in a research report on Thursday, May 7th. Needham & Company LLC raised their price target on shares of SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $800.00 price target on shares of SiTime in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $661.88.

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.