Sitime's EVP sells shares worth $221,381

SANTA CLARA, Calif.—Fariborz Assaderaghi, Executive Vice President of Engineering & Technology at SITIME Corp (NASDAQ:SITM), recently sold 1,002 shares of the company's common stock. The shares were sold on January 2nd at a weighted average price of $220.94, totaling approximately $221,381.

The sale occurred through multiple transactions, with prices ranging from $219.10 to $223.00 per share. Following this sale, Assaderaghi retains direct ownership of 100,681 shares, which includes 97,352 shares issuable from restricted stock units and performance-based restricted stock units that have not yet vested. These units are subject to time-based and performance-based vesting conditions. InvestingPro data shows the stock's price movements are quite volatile, with 13 additional exclusive insights available to subscribers, including detailed valuation metrics and growth forecasts.

In other recent news, SiTime Corporation (NASDAQ:SITM) reported a substantial year-over-year revenue increase of 62% in the third quarter of 2024, amounting to $57.7 million. The company's net income accounted for 17% of this revenue. The Communications Enterprise and Data Center segment saw a 233% growth year-over-year, with predictions of continued growth into 2025, driven by AI server demand. SiTime also plans to commence volume shipments in the electric vehicle sector in 2025.

The fourth quarter of 2024 is projected to yield revenues between $63 million and $65 million, with non-GAAP gross margins around 58% to 58.5%. Non-GAAP EPS for the same quarter is expected to be between $0.39 and $0.45 per share. SiTime's technology addresses a total market of around $10 billion, with a serviceable market of approximately $3 billion.

These recent developments indicate the company's robust growth and future expansion plans. However, SiTime anticipates a typical seasonal revenue decline of 20% from the fourth to the first quarter. Despite this, the company remains optimistic about its growth trajectory, particularly in high-speed connectivity applications, and expects gross margins to exceed 60% by the second half of 2025.

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