Rajesh Vashist Sells 10,000 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM - Get Free Report) CEO Rajesh Vashist sold 10,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $215.00, for a total transaction of $2,150,000.00. Following the completion of the sale, the chief executive officer now directly owns 474,763 shares of the company's stock, valued at approximately $102,074,045. The trade was a 2.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, May 16th, Rajesh Vashist sold 20,000 shares of SiTime stock. The stock was sold at an average price of $210.65, for a total transaction of $4,213,000.00.

SiTime Stock Down 1.8%

Shares of SiTime stock traded down $3.83 during trading hours on Friday, reaching $210.27. 243,820 shares of the company's stock were exchanged, compared to its average volume of 249,392. SiTime Co. has a 1 year low of $105.40 and a 1 year high of $268.18. The company has a market capitalization of $4.99 billion, a P/E ratio of -51.92 and a beta of 2.24. The business has a fifty day moving average of $175.79 and a two-hundred day moving average of $190.91.

SiTime (NASDAQ:SITM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.15. The business had revenue of $60.31 million during the quarter, compared to analyst estimates of $54.01 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The company's revenue for the quarter was up 82.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. As a group, research analysts predict that SiTime Co. will post -2.44 EPS for the current year.

Wall Street Analyst Weigh In

SITM has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Barclays upped their target price on shares of SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $224.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of SiTime by 0.9% during the 1st quarter. Rhumbline Advisers now owns 51,143 shares of the company's stock valued at $7,818,000 after acquiring an additional 440 shares during the last quarter. Strs Ohio acquired a new position in shares of SiTime during the 1st quarter valued at about $734,000. Intech Investment Management LLC boosted its position in shares of SiTime by 21.6% during the 1st quarter. Intech Investment Management LLC now owns 8,322 shares of the company's stock valued at $1,272,000 after acquiring an additional 1,477 shares during the last quarter. Fred Alger Management LLC boosted its position in shares of SiTime by 45.5% during the 1st 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 during the last quarter. Finally, Polar Asset Management Partners Inc. boosted its position in shares of SiTime by 118.5% during the 1st quarter. Polar Asset Management Partners Inc. now owns 48,076 shares of the company's stock valued at $7,349,000 after acquiring an additional 26,076 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company's stock.

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.