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

SiTime Corporation (NASDAQ:SITM - Get Free Report) CEO Rajesh Vashist sold 2,000 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $215.00, for a total value of $430,000.00. Following the completion of the transaction, the chief executive officer directly owned 472,763 shares in the company, valued at $101,644,045. The trade was a 0.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, June 9th, Rajesh Vashist sold 10,000 shares of SiTime stock. The stock was sold at an average price of $215.00, for a total value of $2,150,000.00.
• On Friday, May 16th, Rajesh Vashist sold 20,000 shares of SiTime stock. The shares were sold at an average price of $210.65, for a total value of $4,213,000.00.

SiTime Price Performance

SITM stock traded down $1.50 during mid-day trading on Friday, reaching $192.13. 142,622 shares of the company's stock were exchanged, compared to its average volume of 316,130. The company has a market cap of $4.56 billion, a price-to-earnings ratio of -50.68 and a beta of 2.20. The stock's 50 day moving average is $209.01 and its 200 day moving average is $187.74. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.15. SiTime had a negative return on equity of 9.43% and a negative net margin of 38.60%. The business had revenue of $60.31 million during the quarter, compared to analysts' expectations of $54.01 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. The business's revenue was up 82.7% compared to the same quarter last year. On average, research analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SiTime

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of SiTime during the fourth quarter worth $7,312,000. PNC Financial Services Group Inc. boosted its holdings in SiTime by 15.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 877 shares of the company's stock valued at $188,000 after purchasing an additional 118 shares during the period. Avantax Advisory Services Inc. acquired a new position in shares of SiTime during the 4th quarter worth about $210,000. Cibc World Markets Corp purchased a new position in shares of SiTime in the 4th quarter valued at about $373,000. Finally, Xponance Inc. raised its position in shares of SiTime by 10.3% during the 4th quarter. Xponance Inc. now owns 1,324 shares of the company's stock worth $284,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SITM. Barclays boosted their price objective on SiTime from $135.00 to $180.00 and gave the company an "underweight" rating in a report on Wednesday, June 11th. Stifel Nicolaus upped their target price on SiTime from $210.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, July 18th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $228.00.

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.