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

SiTime Corporation (NASDAQ:SITM) CEO Rajesh Vashist sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $289.75, for a total transaction of $579,500.00. Following the completion of the sale, the chief executive officer owned 449,208 shares of the company’s stock, valued at approximately $130,158,018. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, October 1st, Rajesh Vashist sold 2,000 shares of SiTime stock. The shares were sold at an average price of $294.00, for a total transaction of $588,000.00.
• On Tuesday, September 2nd, Rajesh Vashist sold 2,000 shares of SiTime stock. The shares were 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 shares were sold at an average price of $215.00, for a total transaction of $430,000.00.

SiTime Stock Down 3.1%

Shares of SITM opened at $279.31 on Wednesday. The company has a market cap of $7.26 billion, a price-to-earnings ratio of -80.26 and a beta of 2.36. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $323.66. The company has a 50 day moving average of $278.16 and a two-hundred day moving average of $228.02.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.18. The company had revenue of $69.49 million during the quarter, compared to the consensus estimate of $64.66 million. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. SiTime’s revenue was up 58.3% compared to the same quarter last year. During the same period last year, the firm earned $0.12 earnings per share. On average, sell-side analysts expect that SiTime Corporation will post -2.44 EPS for the current year.

Institutional Investors Weigh In On SiTime

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Game Plan Financial Advisors LLC purchased a new position in shares of SiTime during the second quarter worth $25,000. Salomon & Ludwin LLC purchased a new position in shares of SiTime during the third quarter worth $47,000. Global Retirement Partners LLC raised its holdings in shares of SiTime by 3,220.0% during the third quarter. Global Retirement Partners LLC now owns 166 shares of the company’s stock worth $50,000 after purchasing an additional 161 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of SiTime by 33.6% during the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after purchasing an additional 88 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of SiTime during the second quarter worth $58,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays boosted their target price on shares of SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a research report on Thursday, August 7th. UBS Group lifted their price objective on shares of SiTime from $260.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Raymond James Financial reiterated an “outperform” rating and set a $270.00 price objective (up from $250.00) on shares of SiTime in a research note on Friday, August 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus lifted their price objective on shares of SiTime from $230.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Five analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, SiTime has a consensus rating of “Hold” and a consensus price target of $274.17.

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.