Key Points
- SiTime insider Fariborz Assaderaghi sold 1,000 shares on June 3 at an average price of $702.90, totaling $702,900. After the sale, he still held 78,936 shares valued at about $55.5 million.
- This follows additional recent insider sales by Assaderaghi, including 1,500 shares on May 29 and 1,709 shares on May 22, indicating a pattern of trimming his position.
- SiTime has posted strong recent results and analyst support, including Q1 earnings of $1.44 per share versus $1.14 expected and revenue growth of 88.3% year over year. Wall Street’s consensus rating is “Moderate Buy,” with an average price target of $661.88.
SiTime Corporation (NASDAQ:SITM - Get Free Report) insider Fariborz Assaderaghi sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $702.90, for a total value of $702,900.00. Following the completion of the transaction, the insider owned 78,936 shares of the company's stock, valued at $55,484,114.40. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Fariborz Assaderaghi also recently made the following trade(s):
- On Friday, May 29th, Fariborz Assaderaghi sold 1,500 shares of SiTime stock. The shares were sold at an average price of $712.72, for a total value of $1,069,080.00.
- On Friday, May 22nd, Fariborz Assaderaghi sold 1,709 shares of SiTime stock. The shares were sold at an average price of $731.49, for a total value of $1,250,116.41.
SiTime Stock Performance
Shares of SITM opened at $625.68 on Friday. The stock has a 50 day simple moving average of $582.71 and a 200 day simple moving average of $436.70. SiTime Corporation has a 52-week low of $186.49 and a 52-week high of $901.81. The firm has a market capitalization of $16.52 billion, a PE ratio of -619.49 and a beta of 2.94.
SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.30. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The firm had revenue of $113.57 million during the quarter, compared to the consensus estimate of $103.51 million. During the same quarter in the prior year, the firm posted $0.26 EPS. The business's revenue was up 88.3% on a year-over-year basis. Equities research analysts predict that SiTime Corporation will post 3.23 EPS for the current fiscal year.
Institutional Investors Weigh In On SiTime
Institutional investors and hedge funds have recently made changes to their positions in the stock. Rakuten Securities Inc. raised its stake 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 purchasing an additional 49 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of SiTime by 26.2% during the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company's stock worth $27,000 after purchasing an additional 16 shares in the last quarter. Optiver Holding B.V. raised its stake in shares of SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company's stock worth $27,000 after purchasing an additional 32 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of SiTime by 190.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company's stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of SiTime during the 4th quarter worth approximately $33,000. Institutional investors own 84.31% of the company's stock.
Wall Street Analyst Weigh In
SITM has been the subject of a number of recent research reports. Needham & Company LLC upped their price target on SiTime from $450.00 to $850.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SiTime in a research report on Tuesday, April 21st. Roth Mkm reaffirmed a "buy" rating and set a $900.00 price target on shares of SiTime in a research report on Thursday, May 7th. Stifel Nicolaus upped their price target on SiTime from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Finally, Zacks Research raised SiTime from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, SiTime currently has a consensus 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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