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

Key Points

• SiTime CEO Rajesh Vashist sold 2,000 shares of the company's stock for a total of $588,000, reducing his ownership by 0.44% to 451,208 shares valued at approximately $132.7 million.
• SiTime's stock price increased by 1.5% to reach $300.03, with a market capitalization of $7.80 billion and a 52-week high of $319.00.
• Recent earnings showed SiTime reported a 58.3% year-over-year revenue growth, with earnings per share of $0.47, significantly exceeding analysts' expectations of $0.29.

SiTime Corporation (NASDAQ:SITM - Get Free Report) CEO Rajesh Vashist sold 2,000 shares of SiTime stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $294.00, for a total value of $588,000.00. Following the transaction, the chief executive officer owned 451,208 shares of the company's stock, valued at $132,655,152. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, September 2nd, Rajesh Vashist sold 2,000 shares of SiTime stock. The stock was sold at an average price of $232.00, for a total value of $464,000.00.
• On Thursday, August 7th, Rajesh Vashist sold 2,000 shares of SiTime stock. The stock was sold at an average price of $215.00, for a total value of $430,000.00.
• On Friday, July 18th, Rajesh Vashist sold 2,000 shares of SiTime stock. The stock was sold at an average price of $215.00, for a total value of $430,000.00.

SiTime Stock Up 1.5%

Shares of SiTime stock traded up $4.32 during trading on Thursday, hitting $300.03. 348,215 shares of the company were exchanged, compared to its average volume of 336,593. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $319.00. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of -86.22 and a beta of 2.35. The firm has a 50 day moving average price of $241.22 and a 200 day moving average price of $203.59.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.18. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%.The firm had revenue of $69.49 million during the quarter, compared to the consensus estimate of $64.66 million. During the same period in the previous year, the firm posted $0.12 EPS. The company's quarterly revenue was up 58.3% compared to the same quarter last year. Analysts predict that SiTime Corporation will post -2.44 earnings per share for the current year.

Institutional Trading of SiTime

Several institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC purchased a new stake in shares of SiTime during the 2nd quarter valued at $289,000. Texas Permanent School Fund Corp grew its stake in shares of SiTime by 202.1% during the 2nd quarter. Texas Permanent School Fund Corp now owns 18,591 shares of the company's stock valued at $3,961,000 after buying an additional 12,437 shares during the period. Osaic Holdings Inc. grew its stake in shares of SiTime by 3,957.0% during the 2nd quarter. Osaic Holdings Inc. now owns 12,252 shares of the company's stock valued at $2,609,000 after buying an additional 11,950 shares during the period. Thrivent Financial for Lutherans boosted its position in SiTime by 9.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 15,359 shares of the company's stock worth $3,273,000 after purchasing an additional 1,319 shares during the period. Finally, State of Wyoming purchased a new stake in SiTime during the 2nd quarter worth $58,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SITM. UBS Group began coverage on shares of SiTime in a research note on Thursday, August 14th. They issued a "buy" rating and a $260.00 target price for the company. Barclays lifted their target price on shares of SiTime from $180.00 to $220.00 and gave the stock an "underweight" rating in a research note on Thursday, August 7th. Stifel Nicolaus lifted their target price 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. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $270.00 target price (up from $250.00) on shares of SiTime in a research note on Friday, August 29th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, SiTime presently has a consensus rating of "Moderate Buy" and an average target price of $258.33.

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.

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