Fariborz Assaderaghi Sells 3,000 Shares of SiTime (NASDAQ:SITM) Stock

Key Points

• SiTime insider Fariborz Assaderaghi sold 3,000 shares for $702,000, representing a 3.11% decrease in their position, and now owns approximately 93,433 shares valued at about $21.86 million.
• SiTime stock is currently down 3.6%, trading at $224.49, with a market cap of **$5.84 billion** and a price-to-earnings ratio of **-64.51**.
• Analysts have varied ratings for SiTime, with a consensus target price of $243.33, and multiple firms issuing buy ratings, highlighting strong anticipated performance in the semiconductor market.

SiTime Corporation (NASDAQ:SITM - Get Free Report) insider Fariborz Assaderaghi sold 3,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $234.00, for a total transaction of $702,000.00. Following the sale, the insider owned 93,433 shares of the company's stock, valued at $21,863,322. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, June 5th, Fariborz Assaderaghi sold 1,000 shares of SiTime stock. The stock was sold at an average price of $201.36, for a total value of $201,360.00.

SiTime Price Performance

Shares of NASDAQ SITM traded up $4.27 during trading hours on Friday, hitting $234.77. 204,562 shares of the company's stock were exchanged, compared to its average volume of 343,064. The company's 50-day moving average price is $213.72 and its 200-day moving average price is $189.03. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $268.18. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of -67.46 and a beta of 2.18.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.29 by $0.18. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%.The company had revenue of $69.49 million for the quarter, compared to the consensus estimate of $64.66 million. During the same period in the previous year, the business posted $0.12 EPS. The company's revenue for the quarter was up 58.3% on a year-over-year basis. On average, research analysts expect that SiTime Corporation will post -2.44 earnings per share for the current year.

Institutional Trading of SiTime

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITM. Marshall Wace LLP bought a new position in SiTime during the fourth quarter worth about $236,000. Northern Trust Corp raised its holdings in shares of SiTime by 5.2% in the 4th quarter. Northern Trust Corp now owns 240,050 shares of the company's stock worth $51,498,000 after buying an additional 11,872 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of SiTime by 16.1% during the 4th quarter. Ameriprise Financial Inc. now owns 515,735 shares of the company's stock worth $110,641,000 after buying an additional 71,658 shares during the period. BNP Paribas Financial Markets acquired a new stake in SiTime in the 4th quarter valued at $949,000. Finally, Balyasny Asset Management L.P. acquired a new stake in SiTime in the 4th quarter valued at $318,000. Institutional investors own 84.31% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Barclays raised their price target on shares of SiTime from $180.00 to $220.00 and gave the stock an "underweight" rating in a research report on Thursday, August 7th. UBS Group started coverage on shares of SiTime in a research report on Thursday, August 14th. They set a "buy" rating and a $260.00 price objective for the company. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $270.00 target price (up previously from $250.00) on shares of SiTime in a research note on Friday, August 29th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, SiTime currently has a consensus rating of "Moderate Buy" and an average price target of $243.33.

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.