SiTime (NASDAQ:SITM) Insider Sells $695,250.00 in Stock

Key Points

• Fariborz Assaderaghi, an insider at SiTime Corporation, sold 3,000 shares for a total of $695,250, resulting in a 3.21% decrease in his position, leaving him with 90,433 shares valued at approximately $20.96 million.
• SiTime's stock performance has been strong, with shares trading up to $244.57, and the company reported a revenue of $69.49 million for the last quarter, exceeding estimates by 7.05%.
• Analysts have given SiTime a consensus rating of "Moderate Buy" with a price target averaging $243.33, reflecting positive sentiment despite recent insider selling activity.

SiTime Corporation (NASDAQ:SITM - Get Free Report) insider Fariborz Assaderaghi sold 3,000 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $231.75, for a total value of $695,250.00. Following the completion of the sale, the insider owned 90,433 shares of the company's stock, valued at $20,957,847.75. This represents a 3.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, September 2nd, Fariborz Assaderaghi sold 3,000 shares of SiTime stock. The stock was sold at an average price of $234.00, for a total value of $702,000.00.

SiTime Price Performance

Shares of SiTime stock traded up $9.80 during trading hours on Monday, hitting $244.57. The company's stock had a trading volume of 300,348 shares, compared to its average volume of 329,670. SiTime Corporation has a 12 month low of $105.40 and a 12 month high of $268.18. The stock has a 50 day moving average of $213.72 and a 200 day moving average of $189.03. The company has a market capitalization of $6.36 billion, a PE ratio of -70.28 and a beta of 2.18.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share (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 during the quarter, compared to the consensus estimate of $64.66 million. During the same period in the prior year, the company earned $0.12 earnings per share. The company's revenue for the quarter was up 58.3% compared to the same quarter last year. Equities analysts expect that SiTime Corporation will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

SITM has been the subject of several recent analyst reports. Raymond James Financial restated an "outperform" rating and issued a $270.00 price target (up from $250.00) on shares of SiTime in a report on Friday, August 29th. Barclays upped their price objective on SiTime from $180.00 to $220.00 and gave the stock an "underweight" rating in a research report on Thursday, August 7th. UBS Group began coverage on SiTime in a research report on Thursday, August 14th. They set a "buy" rating and a $260.00 price objective for the company. Finally, Stifel Nicolaus upped their price objective on SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $243.33.

Institutional Investors Weigh In On SiTime

A number of large investors have recently added to or reduced their stakes in SITM. BNP Paribas Financial Markets bought a new stake in SiTime in the 4th quarter valued at $949,000. Balyasny Asset Management L.P. bought a new stake in SiTime in the 4th quarter valued at $318,000. Deutsche Bank AG raised its stake in SiTime by 22.9% in the 4th quarter. Deutsche Bank AG now owns 50,798 shares of the company's stock valued at $10,898,000 after acquiring an additional 9,460 shares during the period. Ethic Inc. raised its stake in SiTime by 152.1% in the 4th quarter. Ethic Inc. now owns 5,692 shares of the company's stock valued at $1,221,000 after acquiring an additional 3,434 shares during the period. Finally, Gotham Asset Management LLC raised its stake in SiTime by 392.6% in the 4th quarter. Gotham Asset Management LLC now owns 5,798 shares of the company's stock valued at $1,244,000 after acquiring an additional 4,621 shares during the period. Institutional investors own 84.31% of the company's stock.

About SiTime

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.

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