SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist Sells 20,000 Shares

SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $125.44, for a total value of $2,508,800.00. Following the completion of the transaction, the chief executive officer now owns 455,367 shares in the company, valued at $57,121,236.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Rajesh Vashist also recently made the following trade(s):

• On Monday, June 17th, Rajesh Vashist sold 4,000 shares of SiTime stock. The stock was sold at an average price of $124.17, for a total value of $496,680.00.

SiTime Trading Down 3.5 %

Shares of SITM stock opened at $120.13 on Wednesday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $141.99. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -29.09 and a beta of 1.83. The stock’s fifty day simple moving average is $107.61 and its 200-day simple moving average is $107.28.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.17). SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. The business had revenue of $33.02 million for the quarter, compared to analysts’ expectations of $32.02 million. On average, sell-side analysts predict that SiTime Co. will post -2.66 EPS for the current year.

Analyst Ratings Changes

Separately, Needham & Company LLC upgraded SiTime from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Institutional Trading of SiTime

Institutional investors have recently bought and sold shares of the company. Jennison Associates LLC boosted its position in SiTime by 19.8% during the fourth quarter. Jennison Associates LLC now owns 173,770 shares of the company’s stock valued at $21,214,000 after purchasing an additional 28,739 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in SiTime by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock valued at $30,112,000 after purchasing an additional 35,491 shares during the last quarter. Norges Bank acquired a new stake in SiTime during the fourth quarter valued at $12,662,000. Vanguard Group Inc. boosted its position in SiTime by 2.9% during the third quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock valued at $236,110,000 after purchasing an additional 58,629 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in SiTime by 12,108.0% during the fourth quarter. International Assets Investment Management LLC now owns 12,208 shares of the company’s stock valued at $1,490,000 after purchasing an additional 12,108 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

About SiTime

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.