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

by · The Cerbat Gem

SiTime Corporation (NASDAQ:SITM – Get Free Report) CEO Rajesh Vashist sold 10,000 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $329.00, for a total value of $3,290,000.00. Following the completion of the transaction, the chief executive officer owned 439,208 shares of the company’s stock, valued at $144,499,432. The trade was a 2.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

  • On Monday, November 3rd, Rajesh Vashist sold 2,000 shares of SiTime stock. The stock was sold at an average price of $289.75, for a total transaction of $579,500.00.
  • On Wednesday, October 1st, Rajesh Vashist sold 2,000 shares of SiTime stock. The shares were sold at an average price of $294.00, for a total transaction of $588,000.00.
  • On Tuesday, September 2nd, Rajesh Vashist sold 2,000 shares of SiTime stock. The shares were sold at an average price of $232.00, for a total transaction of $464,000.00.

SiTime Stock Performance

SITM stock traded down $5.45 during trading on Monday, reaching $321.49. 471,012 shares of the company were exchanged, compared to its average volume of 338,013. The stock’s 50 day moving average price is $282.61 and its 200 day moving average price is $231.90. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $386.00. The company has a market cap of $8.39 billion, a P/E ratio of -108.61 and a beta of 2.36.

SiTime (NASDAQ:SITM – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The company had revenue of $83.57 million during the quarter, compared to the consensus estimate of $78.08 million. SiTime had a negative net margin of 25.18% and a negative return on equity of 5.69%. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. As a group, equities research analysts forecast that SiTime Corporation will post -2.44 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on SITM. Needham & Company LLC boosted their target price on SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research note on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and issued a $270.00 price objective (up from $250.00) on shares of SiTime in a research note on Friday, August 29th. Stifel Nicolaus set a $360.00 target price on shares of SiTime in a report on Thursday. Finally, Barclays upped their price target on shares of SiTime from $220.00 to $260.00 and gave the company an “underweight” rating in a report on Thursday. Five analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, SiTime currently has an average rating of “Hold” and a consensus target price of $329.17.

Get Our Latest Stock Report on SiTime

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Alliancebernstein L.P. increased its position in SiTime by 2,016.8% during the 1st quarter. Alliancebernstein L.P. now owns 443,227 shares of the company’s stock worth $67,756,000 after purchasing an additional 422,288 shares in the last quarter. American Century Companies Inc. purchased a new stake in SiTime during the second quarter worth approximately $64,873,000. Eventide Asset Management LLC increased its position in shares of SiTime by 5,015.9% in the first quarter. Eventide Asset Management LLC now owns 166,214 shares of the company’s stock worth $25,408,000 after acquiring an additional 162,965 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of SiTime by 22.0% in the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after acquiring an additional 132,948 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of SiTime by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,764,066 shares of the company’s stock valued at $832,841,000 after acquiring an additional 123,287 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Company Profile

(Get Free Report)

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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