SiTime (NASDAQ:SITM) CEO Sells $738,400.00 in Stock

SiTime Corporation (NASDAQ:SITM) CEO Rajesh Vashist sold 2,000 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $369.20, for a total value of $738,400.00. Following the sale, the chief executive officer directly owned 431,609 shares in the company, valued at approximately $159,350,042.80. The trade was a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, December 1st, Rajesh Vashist sold 2,000 shares of SiTime stock. The stock was sold at an average price of $291.02, for a total value of $582,040.00.
• On Thursday, November 6th, Rajesh Vashist sold 10,000 shares of SiTime stock. The stock was sold at an average price of $329.00, for a total value of $3,290,000.00.
• On Monday, November 3rd, Rajesh Vashist sold 2,000 shares of SiTime stock. The stock was sold at an average price of $289.75, for a total value of $579,500.00.

SiTime Price Performance

Shares of SiTime stock opened at $333.10 on Friday. The business has a 50-day moving average of $328.56 and a 200-day moving average of $273.45. The company has a market capitalization of $8.69 billion, a PE ratio of -112.53 and a beta of 2.49. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $387.52.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The firm had revenue of $83.57 million for the quarter, compared to analysts’ expectations of $78.08 million. During the same period last year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. On average, equities analysts expect that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of SiTime

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Peregrine Investment Management Inc. boosted its stake in SiTime by 28.4% in the 2nd quarter. Peregrine Investment Management Inc. now owns 67,870 shares of the company’s stock worth $14,462,000 after purchasing an additional 15,000 shares during the period. Ariose Capital Management Ltd bought a new position in SiTime in the 3rd quarter worth about $2,974,000. Fred Alger Management LLC raised its holdings in shares of SiTime by 45.5% in the first quarter. Fred Alger Management LLC now owns 128,525 shares of the company’s stock valued at $19,648,000 after acquiring an additional 40,220 shares in the last quarter. Invesco Ltd. boosted its position in SiTime by 4.8% during the 2nd quarter. Invesco Ltd. now owns 1,019,140 shares of the company’s stock valued at $217,158,000 after acquiring an additional 46,721 shares in the last quarter. Finally, Fortress Investment Group LLC bought a new position in shares of SiTime during the 2nd quarter worth approximately $22,182,000. 84.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Barclays upped their price objective on shares of SiTime from $220.00 to $260.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. The Goldman Sachs Group started coverage on SiTime in a report on Monday, December 15th. They set a “buy” rating and a $420.00 price objective on the stock. Needham & Company LLC upped their target price on shares of SiTime from $250.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Raymond James Financial reiterated an “outperform” rating on shares of SiTime in a report on Tuesday, December 2nd. Finally, Loop Capital began coverage on shares of SiTime in a research note on Friday, November 21st. They issued a “buy” rating and a $350.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, SiTime currently has an average rating of “Moderate Buy” and an average price target of $343.13.

SiTime Company Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.