Key Points
- Insider Fariborz Assaderaghi sold 1,500 shares on Dec. 1 at an average price of $291.58 for $437,370, leaving him with 84,815 shares (a 1.74% reduction in his ownership).
- SiTime beat the quarter's expectations with $0.87 EPS (vs. $0.71 expected) and revenue of $83.57M, up 44.8% year‑over‑year, but the company remains unprofitable with a −25.18% net margin and negative ROE.
- Shares have rallied (up ~12.5%, 12‑month high $386) and analyst sentiment is largely positive (consensus "Moderate Buy" with a $332.14 target), while institutional investors own about 84.31% of the stock.
SiTime Corporation (NASDAQ:SITM - Get Free Report) insider Fariborz Assaderaghi sold 1,500 shares of the business's stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $291.58, for a total transaction of $437,370.00. Following the sale, the insider directly owned 84,815 shares of the company's stock, valued at approximately $24,730,357.70. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Fariborz Assaderaghi also recently made the following trade(s):
- On Thursday, September 4th, Fariborz Assaderaghi sold 3,000 shares of SiTime stock. The shares were sold at an average price of $231.75, for a total transaction of $695,250.00.
SiTime Stock Up 12.5%
NASDAQ:SITM opened at $346.50 on Thursday. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $386.00. The firm has a market capitalization of $9.04 billion, a P/E ratio of -117.06 and a beta of 2.55. The stock's fifty day simple moving average is $290.76 and its 200-day simple moving average is $245.93.
SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.16. The company had revenue of $83.57 million during the quarter, compared to analysts' expectations of $78.08 million. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.SiTime's revenue was up 44.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 EPS. As a group, equities research analysts expect that SiTime Corporation will post -2.44 earnings per share for the current year.
Analyst Ratings Changes
Several research analysts have weighed in on SITM shares. Loop Capital assumed coverage on SiTime in a report on Friday, November 21st. They set a "buy" rating and a $350.00 target price on the stock. UBS Group raised their price target on shares of SiTime from $355.00 to $375.00 and gave the stock a "buy" rating in a research note on Thursday, November 6th. Raymond James Financial reissued an "outperform" rating on shares of SiTime in a research report on Tuesday. Roth Capital restated a "buy" rating and set a $350.00 target price on shares of SiTime in a report on Thursday, November 6th. Finally, Needham & Company LLC lifted their price target on shares of SiTime from $250.00 to $360.00 and gave the company a "buy" rating in a research note on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $332.14.
View Our Latest Analysis on SITM
Hedge Funds Weigh In On SiTime
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. increased its holdings in SiTime by 2,016.8% during the first quarter. Alliancebernstein L.P. now owns 443,227 shares of the company's stock worth $67,756,000 after buying an additional 422,288 shares during the last quarter. American Century Companies Inc. acquired a new stake in SiTime in the second quarter valued at $64,873,000. Eventide Asset Management LLC grew its position in shares of SiTime by 5,015.9% in the 1st quarter. Eventide Asset Management LLC now owns 166,214 shares of the company's stock valued at $25,408,000 after acquiring an additional 162,965 shares during the period. Wellington Management Group LLP increased its stake in shares of SiTime by 36.8% during the 3rd quarter. Wellington Management Group LLP now owns 537,741 shares of the company's stock worth $162,027,000 after purchasing an additional 144,671 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of SiTime by 22.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company's stock worth $156,887,000 after purchasing an additional 132,948 shares during the last quarter. 84.31% of the stock is owned by institutional investors.
About SiTime
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
