SiTime (NASDAQ:SITM) CEO Rajesh Vashist Sells 2,000 Shares

SiTime Corporation (NASDAQ:SITM) CEO Rajesh Vashist sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $294.00, for a total transaction of $588,000.00. Following the completion of the sale, the chief executive officer owned 451,208 shares in the company, valued at approximately $132,655,152. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, September 2nd, Rajesh Vashist sold 2,000 shares of SiTime stock. The stock was sold at an average price of $232.00, for a total transaction of $464,000.00.
• On Thursday, August 7th, Rajesh Vashist sold 2,000 shares of SiTime stock. The stock was sold at an average price of $215.00, for a total transaction of $430,000.00.
• On Friday, July 18th, Rajesh Vashist sold 2,000 shares of SiTime stock. The stock was sold at an average price of $215.00, for a total transaction of $430,000.00.

SiTime Price Performance

Shares of NASDAQ:SITM opened at $300.03 on Friday. The firm has a market capitalization of $7.80 billion, a PE ratio of -86.22 and a beta of 2.35. The firm’s 50-day moving average is $243.34 and its two-hundred day moving average is $204.48. SiTime Corporation has a 1 year low of $105.40 and a 1 year high of $319.00.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.18. The company had revenue of $69.49 million for the quarter, compared to analyst estimates of $64.66 million. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The business’s revenue for the quarter was up 58.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. Analysts expect that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SITM. UBS Group began coverage on shares of SiTime in a research note on Thursday, August 14th. They set a “buy” rating and a $260.00 price target on the stock. Barclays boosted their price objective on SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a research report on Thursday, August 7th. Stifel Nicolaus boosted their price objective on SiTime from $230.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Finally, Raymond James Financial reissued an “outperform” rating and set a $270.00 price objective (up from $250.00) on shares of SiTime in a research report on Friday, August 29th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $258.33.

Hedge Funds Weigh In On SiTime

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITM. Game Plan Financial Advisors LLC acquired a new position in SiTime in the second quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in SiTime in the first quarter valued at approximately $32,000. Advisors Asset Management Inc. boosted its holdings in 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 in the last quarter. State of Wyoming acquired a new position in SiTime in the second quarter valued at approximately $58,000. Finally, CWM LLC boosted its holdings in SiTime by 69.0% in the first quarter. CWM LLC now owns 453 shares of the company’s stock valued at $69,000 after purchasing an additional 185 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

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.