SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist Sells 20,000 Shares

SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $170.07, for a total value of $3,401,400.00. Following the sale, the chief executive officer now directly owns 424,417 shares in the company, valued at approximately $72,180,599.19. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

SiTime Trading Down 2.6 %

SITM stock opened at $163.57 on Friday. The company has a market capitalization of $3.78 billion, a P/E ratio of -39.61 and a beta of 1.82. The business has a 50 day simple moving average of $140.48 and a 200-day simple moving average of $118.86. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $170.71.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The firm had revenue of $43.90 million during the quarter, compared to analysts’ expectations of $41.01 million. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. SiTime’s quarterly revenue was up 58.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.17) EPS. Research analysts predict that SiTime Co. will post -3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $130.00 price objective on shares of SiTime in a report on Tuesday, June 25th. Stifel Nicolaus lifted their price target on shares of SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Barclays downgraded shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective for the company. in a research note on Tuesday, August 27th.

Hedge Funds Weigh In On SiTime

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pineridge Advisors LLC acquired a new stake in SiTime during the 4th quarter worth approximately $25,000. Nisa Investment Advisors LLC raised its stake in shares of SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of SiTime by 78.2% during the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after purchasing an additional 147 shares during the period. GAMMA Investing LLC grew its position in SiTime by 281.0% in the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after buying an additional 281 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in SiTime in the 2nd quarter valued at $49,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

About SiTime

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.