Key Points
- Insider sale: SiTime insider Fariborz Assaderaghi sold 1,500 shares on May 29 at an average price of $712.72, totaling about $1.07 million. After the trade, he still held 79,936 shares, and the sale reduced his position by 1.84%.
- Recent insider activity and stock move: Assaderaghi also sold 1,709 shares on May 22 for about $1.25 million. Meanwhile, SiTime stock was trading up 5.4% and opened at $701.08, near its 12-month high of $901.81.
- Strong earnings and analyst sentiment: SiTime beat quarterly expectations with EPS of $1.44 versus $1.14 expected and revenue of $113.57 million, up 88.3% year over year. Analysts currently rate the stock a Moderate Buy with an average price target of $661.88.
SiTime Corporation (NASDAQ:SITM - Get Free Report) insider Fariborz Assaderaghi sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $712.72, for a total transaction of $1,069,080.00. Following the completion of the transaction, the insider directly owned 79,936 shares in the company, valued at approximately $56,971,985.92. The trade was a 1.84% 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 Friday, May 22nd, Fariborz Assaderaghi sold 1,709 shares of SiTime stock. The stock was sold at an average price of $731.49, for a total transaction of $1,250,116.41.
SiTime Trading Up 5.4%
NASDAQ SITM opened at $701.08 on Wednesday. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81. The stock has a market cap of $18.51 billion, a price-to-earnings ratio of -694.14 and a beta of 2.94. The company's 50 day moving average is $555.39 and its two-hundred day moving average is $426.61.
SiTime (NASDAQ:SITM - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.30. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The company had revenue of $113.57 million for the quarter, compared to analysts' expectations of $103.51 million. During the same quarter last year, the business earned $0.26 EPS. The firm's revenue was up 88.3% compared to the same quarter last year. Sell-side analysts forecast that SiTime Corporation will post 3.23 EPS for the current year.
Institutional Investors Weigh In On SiTime
Institutional investors and hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. raised its position in shares of SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company's stock valued at $26,000 after buying an additional 49 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company's stock valued at $27,000 after buying an additional 59 shares during the last quarter. Optiver Holding B.V. raised its position in shares of SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company's stock valued at $27,000 after buying an additional 32 shares during the last quarter. Parallel Advisors LLC raised its position in shares of SiTime by 26.2% during the first quarter. Parallel Advisors LLC now owns 77 shares of the company's stock valued at $27,000 after buying an additional 16 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of SiTime by 3,200.0% during the third quarter. Larson Financial Group LLC now owns 99 shares of the company's stock valued at $30,000 after buying an additional 96 shares during the last quarter. Institutional investors own 84.31% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on SITM. Roth Mkm restated a "buy" rating and set a $900.00 target price on shares of SiTime in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of SiTime from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Barclays upgraded shares of SiTime from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $400.00 to $850.00 in a research note on Thursday, May 7th. The Goldman Sachs Group restated a "buy" rating and set a $800.00 target price on shares of SiTime in a research note on Thursday, May 7th. Finally, UBS Group raised their target price on shares of SiTime from $675.00 to $775.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, SiTime presently has an average rating of "Moderate Buy" and an average price target of $661.88.
View Our Latest Report on SITM
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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