SiTime (NASDAQ:SITM) CEO Sells $464,000.00 in Stock

Key Points

• SiTime CEO Rajesh Vashist sold 2,000 shares of the company's stock for $464,000 at an average price of $232.00 per share, reducing his ownership by 0.43%.
• SiTime's stock reached $224.49 after a drop of $8.34 in trading, with the company reporting a 58.3% year-over-year revenue increase of $69.49 million in its last quarterly earnings.
• Research analysts are generally optimistic about SiTime, with a consensus rating of "Moderate Buy" and a target price averaging $243.33.

SiTime Corporation (NASDAQ:SITM - Get Free Report) CEO Rajesh Vashist sold 2,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $232.00, for a total transaction of $464,000.00. Following the transaction, the chief executive officer owned 463,208 shares in the company, valued at $107,464,256. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 transaction of $430,000.00.
• On Friday, July 18th, Rajesh Vashist sold 2,000 shares of SiTime stock. The shares were sold at an average price of $215.00, for a total transaction of $430,000.00.
• On Monday, June 9th, Rajesh Vashist sold 10,000 shares of SiTime stock. The shares were sold at an average price of $215.00, for a total transaction of $2,150,000.00.

SiTime Stock Performance

Shares of SiTime stock traded down $8.34 on Wednesday, reaching $224.49. The company had a trading volume of 271,404 shares, compared to its average volume of 330,302. The firm has a market cap of $5.84 billion, a PE ratio of -64.51 and a beta of 2.18. The firm's 50 day moving average price is $212.44 and its two-hundred day moving average price is $187.91. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $268.18.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Barclays upped their target price on shares of SiTime from $180.00 to $220.00 and gave the company an "underweight" rating in a report on Thursday, August 7th. Stifel Nicolaus upped their price objective on shares of SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Raymond James Financial restated an "outperform" rating and set a $270.00 price objective (up previously from $250.00) on shares of SiTime in a research report on Friday, August 29th. Finally, UBS Group started coverage on shares of SiTime in a research report on Thursday, August 14th. They set a "buy" rating and a $260.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $243.33.

Hedge Funds Weigh In On SiTime

Large investors have recently made changes to their positions in the stock. Fourth Dimension Wealth LLC purchased a new position in shares of SiTime in the 4th quarter valued at about $25,000. Game Plan Financial Advisors LLC acquired a new stake in SiTime in the 2nd quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in SiTime in the 1st quarter valued at about $32,000. Advisors Asset Management Inc. grew its stake in SiTime by 33.6% in the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company's stock valued at $54,000 after acquiring an additional 88 shares during the last quarter. Finally, State of Wyoming acquired a new stake in SiTime in the 2nd quarter valued at about $58,000. Hedge funds and other institutional investors 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.

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