Rajesh Vashist Sells 2,000 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) CEO Rajesh Vashist sold 2,000 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $369.20, for a total transaction of $738,400.00. Following the sale, the chief executive officer owned 431,609 shares in the company, valued at approximately $159,350,042.80. This trade represents a 0.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, December 1st, Rajesh Vashist sold 2,000 shares of SiTime stock. The stock was sold at an average price of $291.02, for a total value of $582,040.00.
• On Thursday, November 6th, Rajesh Vashist sold 10,000 shares of SiTime stock. The stock was sold at an average price of $329.00, for a total value of $3,290,000.00.
• On Monday, November 3rd, Rajesh Vashist sold 2,000 shares of SiTime stock. The shares were sold at an average price of $289.75, for a total transaction of $579,500.00.

SiTime Trading Down 0.6%

SiTime stock opened at $342.73 on Thursday. The company’s 50-day moving average price is $327.44 and its two-hundred day moving average price is $273.03. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of -115.79 and a beta of 2.49. SiTime Corporation has a 52 week low of $105.40 and a 52 week high of $387.52.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on SITM shares. Roth Capital reaffirmed a “buy” rating and set a $350.00 target price on shares of SiTime in a report on Thursday, November 6th. Needham & Company LLC lifted their price objective on shares of SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Stifel Nicolaus set a $360.00 target price on shares of SiTime in a report on Thursday, November 6th. The Goldman Sachs Group started coverage on shares of SiTime in a report on Monday, December 15th. They set a “buy” rating and a $420.00 target price for the company. Finally, Loop Capital initiated coverage on SiTime in a report on Friday, November 21st. They issued a “buy” rating and a $350.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, SiTime presently has an average rating of “Moderate Buy” and an average target price of $343.13.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. QP Wealth Management LLC purchased a new stake in shares of SiTime in the 4th quarter valued at approximately $719,000. WealthCare Investment Partners LLC acquired a new stake in SiTime during the 4th quarter valued at $256,000. GAMMA Investing LLC lifted its holdings in shares of SiTime by 3.2% in the fourth quarter. GAMMA Investing LLC now owns 2,382 shares of the company’s stock valued at $841,000 after purchasing an additional 74 shares in the last quarter. Swiss Life Asset Management Ltd acquired a new stake in shares of SiTime in the third quarter worth $305,000. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of SiTime during the third quarter valued at $685,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Company Profile

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.