SiTime Co. (NASDAQ:SITM) CEO Sells $3,111,000.00 in Stock

SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist sold 12,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $259.25, for a total transaction of $3,111,000.00. Following the completion of the transaction, the chief executive officer now directly owns 24,781 shares in the company, valued at $6,424,474.25. This trade represents a 32.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Thursday, September 19th, Rajesh Vashist sold 20,000 shares of SiTime stock. The shares were sold at an average price of $170.07, for a total transaction of $3,401,400.00.

SiTime Stock Performance

Shares of SITM stock opened at $226.69 on Thursday. The stock has a 50 day moving average price of $204.89 and a 200 day moving average price of $163.33. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18. The firm has a market capitalization of $5.30 billion, a P/E ratio of -54.76 and a beta of 1.86.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.14. The business had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business’s revenue for the quarter was up 62.4% compared to the same quarter last year. During the same period last year, the company earned ($0.81) earnings per share. As a group, sell-side analysts forecast that SiTime Co. will post -2.98 EPS for the current year.

Institutional Investors Weigh In On SiTime

Several large investors have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its holdings in shares of SiTime by 70.0% in the second quarter. Raymond James & Associates now owns 32,607 shares of the company’s stock valued at $4,056,000 after purchasing an additional 13,421 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of SiTime by 59.5% in the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. Atlas Brown Inc. purchased a new stake in SiTime in the second quarter worth about $259,000. Louisiana State Employees Retirement System grew its holdings in SiTime by 2.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the company’s stock worth $1,107,000 after acquiring an additional 200 shares in the last quarter. Finally, Legato Capital Management LLC purchased a new position in SiTime during the 2nd quarter valued at about $448,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on SITM. Stifel Nicolaus upped their price objective on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Needham & Company LLC increased their price target on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays lifted their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Finally, Roth Mkm increased their target price on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

SiTime Company Profile

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.