SANTA CLARA, Calif.—Fariborz Assaderaghi, Executive Vice President of Engineering & Technology at SITIME Corp (NASDAQ:SITM), recently sold 1,000 shares of the company's common stock. The shares were sold at an average price of $210.16, amounting to a total transaction value of $210,160.
Following the sale, Assaderaghi retains ownership of 108,574 shares. Additionally, a separate transaction involving 3,889 shares was reported, which were disposed of at a price of $208.67. This brings the total value of this transaction to $811,517, although the nature of this particular transaction was not a direct sale.
SITIME Corp, a semiconductor company based in Santa Clara, continues to see its executives actively manage their holdings, reflecting ongoing engagement with the company's stock performance.
In other recent news, SiTime Corporation (NASDAQ:SITM) reported a substantial 62% year-over-year revenue increase in Q3 2024, reaching $57.7 million, with net income representing 17% of this revenue. The company's Communications Enterprise and Data Center segment saw a 233% growth year-over-year. SiTime anticipates continued growth in this segment into 2025, driven by AI server demand, and plans to initiate volume shipments for electric vehicles in 2025. Revenue for Q4 2024 is projected between $63 million and $65 million, with non-GAAP gross margins around 58% to 58.5%.
The company expects non-GAAP EPS for Q4 2024 between $0.39 and $0.45 per share. SiTime's total addressable market for its technology is estimated at around $10 billion, with a serviceable addressable market of approximately $3 billion. Gross margins have improved sequentially and are expected to exceed 60% by the second half of 2025. Despite a typical seasonal revenue decline of 20% from Q4 to Q1, the company remains optimistic about its growth trajectory and future expansion plans.
InvestingPro Insights
As SITIME Corp (NASDAQ:SITM) executives manage their holdings, it's worth noting some key financial metrics and insights from InvestingPro that provide context to the company's current position.
SITIME's stock has shown remarkable performance recently, with InvestingPro data indicating a 53.55% price total return over the past three months and an impressive 82.3% return over the last year. This strong momentum aligns with an InvestingPro Tip highlighting the company's "significant return over the last week," suggesting investor confidence in SITIME's prospects.
Despite these positive stock movements, it's important to note that SITIME was not profitable over the last twelve months, according to another InvestingPro Tip. However, analysts predict the company will be profitable this year, which could explain the recent stock price appreciation and executive stock transactions.
The company's financial health appears solid, with an InvestingPro Tip indicating that SITIME "holds more cash than debt on its balance sheet." This strong liquidity position is further supported by the fact that the company's liquid assets exceed short-term obligations, providing financial flexibility.
For investors seeking a more comprehensive analysis, InvestingPro offers 16 additional tips for SITIME Corp, providing a deeper understanding of the company's financial situation and market position.
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