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

SiTime Corporation (NASDAQ:SITM) CEO Rajesh Vashist sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $291.02, for a total transaction of $582,040.00. Following the transaction, the chief executive officer directly owned 433,609 shares of the company’s stock, valued at $126,188,891.18. This represents a 0.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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.
• 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 value of $588,000.00.

SiTime Trading Up 12.5%

Shares of NASDAQ:SITM opened at $346.50 on Thursday. The stock has a fifty day simple moving average of $290.76 and a two-hundred day simple moving average of $245.93. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $386.00. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of -117.06 and a beta of 2.55.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.16. The firm had revenue of $83.57 million during the quarter, compared to the consensus estimate of $78.08 million. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The company’s revenue was up 44.8% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. As a group, equities research analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

Institutional Investors Weigh In On SiTime

A number of hedge funds have recently added to or reduced their stakes in SITM. Optiver Holding B.V. lifted its holdings in shares of SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after buying an additional 32 shares during the period. Verdence Capital Advisors LLC lifted its holdings in SiTime by 3.7% in the third quarter. Verdence Capital Advisors LLC now owns 1,118 shares of the company’s stock valued at $309,000 after acquiring an additional 40 shares during the period. Bessemer Group Inc. lifted its holdings in SiTime by 27.4% in the third quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock valued at $55,000 after acquiring an additional 40 shares during the period. Smartleaf Asset Management LLC boosted its position in SiTime by 10.9% in the third quarter. Smartleaf Asset Management LLC now owns 427 shares of the company’s stock worth $125,000 after purchasing an additional 42 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of SiTime by 7.7% during the 2nd quarter. Lazard Asset Management LLC now owns 654 shares of the company’s stock valued at $139,000 after purchasing an additional 47 shares during the period. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. UBS Group lifted their target price on shares of SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Barclays boosted 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. Stifel Nicolaus set a $360.00 target price on SiTime in a research note on Thursday, November 6th. Raymond James Financial restated an “outperform” rating on shares of SiTime in a research note on Tuesday. Finally, Loop Capital started coverage on SiTime in a research report on Friday, November 21st. They set a “buy” rating and a $350.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $332.14.

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.