Rajesh Vashist Sells 15,000 Shares of SiTime (NASDAQ:SITM) Stock

by · The Cerbat Gem

SiTime Corporation (NASDAQ:SITM – Get Free Report) CEO Rajesh Vashist sold 15,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $750.20, for a total value of $11,253,000.00. Following the transaction, the chief executive officer directly owned 387,898 shares of the company’s stock, valued at $291,001,079.60. This trade represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Monday, June 15th, Rajesh Vashist sold 5,000 shares of SiTime stock. The shares were sold at an average price of $750.00, for a total value of $3,750,000.00.
  • On Wednesday, June 3rd, Rajesh Vashist sold 10,000 shares of SiTime stock. The shares were sold at an average price of $701.13, for a total value of $7,011,300.00.
  • On Wednesday, June 3rd, Rajesh Vashist sold 30,000 shares of SiTime stock. The shares were sold at an average price of $701.13, for a total value of $21,033,900.00.

SiTime Stock Performance

NASDAQ SITM traded up $12.57 during trading hours on Monday, hitting $742.46. 582,215 shares of the company traded hands, compared to its average volume of 573,592. The business’s 50-day moving average is $625.95 and its 200-day moving average is $455.98. SiTime Corporation has a twelve month low of $186.49 and a twelve month high of $901.81. The stock has a market capitalization of $19.60 billion, a price-to-earnings ratio of -735.11 and a beta of 2.94.

SiTime (NASDAQ:SITM – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.14 by $0.30. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The firm had revenue of $113.57 million during the quarter, compared to analysts’ expectations of $103.51 million. During the same period in the prior year, the firm posted $0.26 earnings per share. The business’s quarterly revenue was up 88.3% compared to the same quarter last year. Analysts predict that SiTime Corporation will post 3.23 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Zacks Research raised SiTime from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. UBS Group raised their price objective on SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Roth Mkm reaffirmed a “buy” rating and issued a $900.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $661.88.

Read Our Latest Stock Analysis on SiTime

Institutional Trading of SiTime

Several hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in SiTime by 26.2% during the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 16 shares during the last quarter. Optiver Holding B.V. lifted its holdings in SiTime by 433.3% during the 1st quarter. Optiver Holding B.V. now owns 128 shares of the company’s stock worth $44,000 after purchasing an additional 104 shares during the last quarter. Bank of America Corp DE lifted its holdings in SiTime by 53.7% during the 1st quarter. Bank of America Corp DE now owns 151,021 shares of the company’s stock worth $52,155,000 after purchasing an additional 52,754 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in SiTime during the 1st quarter worth approximately $758,000. Finally, Janus Henderson Group PLC lifted its holdings in SiTime by 13.2% during the 1st quarter. Janus Henderson Group PLC now owns 14,448 shares of the company’s stock worth $4,994,000 after purchasing an additional 1,688 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

About SiTime

(Get Free Report)

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.

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