SiTime Corporation (NASDAQ:SITM - Get Free Report) insider Fariborz Assaderaghi sold 4,984 shares of SiTime stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $406.45, for a total transaction of $2,025,746.80. Following the sale, the insider directly owned 89,194 shares in the company, valued at $36,252,901.30. This trade represents a 5.29% decrease in their ownership of the stock. The sale 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 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 stock was 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 shares were sold at an average price of $291.58, for a total value of $437,370.00.
SiTime Stock Up 2.2%
Shares of SITM opened at $404.79 on Wednesday. The stock has a market cap of $10.65 billion, a PE ratio of -222.41 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 business has a 50-day simple moving average of $374.42 and a two-hundred day simple moving average of $315.17.
SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The company had revenue of $113.29 million during the quarter, compared to the consensus estimate of $101.91 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The firm's revenue was up 66.3% compared to the same quarter last year. On average, equities research analysts expect that SiTime Corporation will post -2.44 EPS for the current year.
Hedge Funds Weigh In On SiTime
Several institutional investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. grew its position in shares of SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company's stock worth $26,000 after buying an additional 49 shares during the period. 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 valued at $27,000 after acquiring an additional 32 shares during the period. Hantz Financial Services Inc. boosted its stake in SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company's stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in SiTime in the fourth quarter worth $33,000. Finally, Larson Financial Group LLC increased its stake in SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company's stock valued at $30,000 after purchasing an additional 96 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have commented on SITM. The Goldman Sachs Group began coverage on SiTime in a report on Monday, December 15th. They set a "buy" rating and a $420.00 target price on the stock. Barclays set a $400.00 target price on SiTime in a report on Thursday, February 5th. Wall Street Zen upgraded shares of SiTime from a "hold" rating to a "buy" rating in a report on Saturday, February 14th. Needham & Company LLC boosted their price target on shares of SiTime from $400.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of SiTime in a research report on Tuesday, December 2nd. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $409.38.
View Our Latest Stock Analysis on SiTime
SiTime Company Profile
(
Get Free Report)
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.
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