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SANTA CLARA, CA—Fariborz Assaderaghi, Executive Vice President of Engineering & Technology at SITIME Corp (NASDAQ:SITM), recently sold 1,003 shares of the company’s common stock. This transaction, which took place on February 3, 2025, was executed at a weighted average price of $204.42 per share, with prices ranging from $198.00 to $211.00. The total value of the shares sold amounted to approximately $205,033.
Following this sale, Assaderaghi retains 99,678 shares, including restricted stock units and performance-based units that are yet to vest. These units are subject to time-based vesting and performance criteria based on SITIME’s stock price. InvestingPro analysis shows the stock trading between analyst targets of $160-$250, with 6 analysts recently revising their earnings expectations upward. For comprehensive insights into SITM’s valuation and growth prospects, investors can access the detailed Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, SiTime Corporation has reported a notable year-over-year revenue increase of 62% in its third quarter of 2024, reaching $57.7 million. The precision timing technology company’s net income constituted 17% of its revenue. SiTime’s executives have outlined expectations for continued growth in the Communications Enterprise and Data Center segment and the initiation of volume shipments in the electric vehicle sector in 2025. The company’s Q4 2024 revenue is projected to be between $63 million and $65 million, with non-GAAP gross margins around 58% to 58.5%. SiTime anticipates gross margins to exceed 60% by the second half of 2025. CEO Rajesh Vashist confirmed that the Communications Enterprise and Data Center segment’s growth is expected to double in 2024 and exceed the company’s overall target of 30% growth in 2025. CFO Beth Howe projected that the Communications Enterprise and Data Center segment would lead Q4 growth, followed by Consumer IoT and other industrial segments. These are among the recent developments for SiTime Corporation.
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