SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist Sells 12,000 Shares

SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist sold 12,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $259.25, for a total value of $3,111,000.00. Following the completion of the transaction, the chief executive officer now owns 24,781 shares in the company, valued at approximately $6,424,474.25. This trade represents a 32.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $170.07, for a total transaction of $3,401,400.00.

SiTime Trading Down 2.2 %

NASDAQ SITM opened at $247.11 on Tuesday. The company’s fifty day simple moving average is $202.64 and its 200-day simple moving average is $161.99. The stock has a market cap of $5.77 billion, a P/E ratio of -59.69 and a beta of 1.86. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The company had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. During the same period in the prior year, the company posted ($0.81) EPS. The firm’s revenue for the quarter was up 62.4% on a year-over-year basis. On average, research analysts expect that SiTime Co. will post -2.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays boosted 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. Roth Mkm increased their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Needham & Company LLC upped their target price on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Institutional Investors Weigh In On SiTime

A number of hedge funds have recently bought and sold shares of the business. Signaturefd LLC raised its position in shares of SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in 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. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in SiTime in the second quarter valued at $49,000. Van ECK Associates Corp bought a new position in SiTime during the 3rd quarter valued at $123,000. Finally, nVerses Capital LLC acquired a new position in SiTime during the 2nd quarter worth $124,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

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.