SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist Sells 10,000 Shares

SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist sold 10,000 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $215.00, for a total transaction of $2,150,000.00. Following the transaction, the chief executive officer now owns 474,763 shares in the company, valued at approximately $102,074,045. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, May 16th, Rajesh Vashist sold 20,000 shares of SiTime stock. The stock was sold at an average price of $210.65, for a total transaction of $4,213,000.00.

SiTime Stock Performance

Shares of SITM stock opened at $215.25 on Wednesday. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of -53.15 and a beta of 2.24. SiTime Co. has a 52 week low of $105.40 and a 52 week high of $268.18. The firm’s 50-day simple moving average is $170.17 and its two-hundred day simple moving average is $190.75.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.11 by $0.15. The business had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The company’s revenue for the quarter was up 82.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Analysts forecast that SiTime Co. will post -2.44 earnings per share for the current year.

Institutional Trading of SiTime

Hedge funds and other institutional investors have recently modified their holdings of the business. Fourth Dimension Wealth LLC bought a new stake in shares of SiTime in the fourth quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of SiTime in the first quarter valued at approximately $32,000. Blue Trust Inc. raised its position in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after purchasing an additional 67 shares during the period. Advisors Asset Management Inc. raised its position in shares of SiTime by 33.6% in the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after purchasing an additional 88 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of SiTime in the fourth quarter valued at approximately $58,000. Institutional investors own 84.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of SiTime from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Barclays boosted their price target on shares of SiTime from $110.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, SiTime has an average rating of “Moderate Buy” and a consensus price target of $215.00.

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.