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

SiTime Corporation (NASDAQ:SITM) CEO Rajesh Vashist sold 2,000 shares of SiTime stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $369.20, for a total transaction of $738,400.00. Following the completion of the transaction, the chief executive officer owned 431,609 shares in the company, valued at approximately $159,350,042.80. This trade represents a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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 Stock Performance

Shares of NASDAQ:SITM traded up $11.72 during midday trading on Tuesday, reaching $344.75. The company had a trading volume of 333,527 shares, compared to its average volume of 378,039. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $387.52. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of -116.47 and a beta of 2.49. The company has a fifty day simple moving average of $324.66 and a two-hundred day simple moving average of $271.72.

SiTime (NASDAQ:SITM) last posted 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 the consensus estimate of $78.08 million. During the same quarter in the previous year, the company earned $0.40 EPS. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. Analysts expect that SiTime Corporation will post -2.44 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on SITM shares. The Goldman Sachs Group started coverage on shares of SiTime in a research note on Monday, December 15th. They set a “buy” rating and a $420.00 target price on the stock. Barclays upped their price target on SiTime from $220.00 to $260.00 and gave the company an “underweight” rating in a research report on Thursday, November 6th. Roth Capital restated a “buy” rating and set a $350.00 price objective on shares of SiTime in a research report on Thursday, November 6th. Stifel Nicolaus set a $360.00 target price on SiTime in a research note on Thursday, November 6th. Finally, Needham & Company LLC increased their price target on shares of SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, SiTime currently has an average rating of “Moderate Buy” and a consensus target price of $343.13.

Institutional Trading of SiTime

A number of institutional investors and hedge funds have recently made changes to their positions in SITM. Vident Advisory LLC raised its stake in shares of SiTime by 16.3% in the 1st quarter. Vident Advisory LLC now owns 2,558 shares of the company’s stock valued at $391,000 after acquiring an additional 359 shares in the last quarter. Royal Bank of Canada grew its holdings in SiTime by 12.5% during the first quarter. Royal Bank of Canada now owns 4,411 shares of the company’s stock valued at $675,000 after purchasing an additional 491 shares during the last quarter. 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. AQR Capital Management LLC raised its position in shares of SiTime by 310.8% in the first quarter. AQR Capital Management LLC now owns 10,754 shares of the company’s stock valued at $1,557,000 after purchasing an additional 8,136 shares during the period. Finally, Fred Alger Management LLC lifted its stake 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 worth $19,648,000 after buying an additional 40,220 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

About SiTime

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.