SiTime (NASDAQ:SITM) CEO Rajesh Vashist Sells 30,000 Shares

by · The Cerbat Gem

SiTime Corporation (NASDAQ:SITM – Get Free Report) CEO Rajesh Vashist sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $701.13, for a total value of $21,033,900.00. Following the completion of the sale, the chief executive officer owned 402,898 shares of the company’s stock, valued at approximately $282,483,874.74. This represents a 6.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • 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.

SiTime Stock Performance

NASDAQ SITM traded down $81.30 on Friday, reaching $625.68. The stock had a trading volume of 695,542 shares, compared to its average volume of 596,429. SiTime Corporation has a 12-month low of $186.49 and a 12-month high of $901.81. The business’s 50-day moving average price is $582.71 and its 200 day moving average price is $436.70. The stock has a market cap of $16.52 billion, a P/E ratio of -619.49 and a beta of 2.94.

SiTime (NASDAQ:SITM – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping 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 business had revenue of $113.57 million during the quarter, compared to analysts’ expectations of $103.51 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company’s quarterly revenue was up 88.3% compared to the same quarter last year. On average, sell-side analysts predict that SiTime Corporation will post 3.23 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SITM shares. Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Zacks Research upgraded SiTime from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Needham & Company LLC upped their price target on SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $800.00 price objective on shares of SiTime in a report on Thursday, May 7th. Finally, Stifel Nicolaus upped their price objective on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $661.88.

Read Our Latest Analysis on SiTime

Institutional Trading of SiTime

Several large investors have recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in shares of SiTime by 26.2% during the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock valued at $27,000 after acquiring an additional 16 shares during the last quarter. Optiver Holding B.V. lifted its holdings in SiTime by 433.3% in the 1st quarter. Optiver Holding B.V. now owns 128 shares of the company’s stock valued at $44,000 after purchasing an additional 104 shares in the last quarter. Bank of America Corp DE lifted its holdings in SiTime by 53.7% in the 1st quarter. Bank of America Corp DE now owns 151,021 shares of the company’s stock valued at $52,155,000 after purchasing an additional 52,754 shares in the last quarter. Edgestream Partners L.P. purchased a new position in SiTime in the 1st quarter valued at about $758,000. Finally, Janus Henderson Group PLC lifted its holdings in SiTime by 13.2% in the 1st quarter. Janus Henderson Group PLC now owns 14,448 shares of the company’s stock valued at $4,994,000 after purchasing an additional 1,688 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

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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