SiTime Co. (NASDAQ:SITM) CEO Sells $4,213,000.00 in Stock

SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist sold 20,000 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $210.65, for a total transaction of $4,213,000.00. Following the sale, the chief executive officer now directly owns 490,320 shares in the company, valued at $103,285,908. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

SiTime Stock Performance

SiTime stock opened at $210.67 on Friday. SiTime Co. has a 52 week low of $105.40 and a 52 week high of $268.18. The stock has a market capitalization of $5.00 billion, a P/E ratio of -52.02 and a beta of 2.24. The stock has a 50-day simple moving average of $158.11 and a 200 day simple moving average of $190.36.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.15. The firm had revenue of $60.31 million during the quarter, compared to the consensus estimate of $54.01 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The business’s revenue for the quarter was up 82.7% compared to the same quarter last year. During the same period last year, the business posted ($0.08) earnings per share. Research analysts forecast that SiTime Co. will post -2.44 earnings per share for the current year.

Institutional Investors Weigh In On SiTime

Several hedge funds have recently bought and sold shares of the stock. Barclays PLC raised its position in shares of SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after buying an additional 16,964 shares in the last quarter. Hanseatic Management Services Inc. bought a new stake in shares of SiTime during the fourth quarter worth $702,000. Crossmark Global Holdings Inc. grew its stake in shares of SiTime by 39.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 1,915 shares of the company’s stock worth $411,000 after purchasing an additional 537 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of SiTime by 601.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,318 shares of the company’s stock worth $283,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of SiTime by 118.0% in the fourth quarter. Blue Trust Inc. now owns 327 shares of the company’s stock worth $70,000 after purchasing an additional 177 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SITM shares. Stifel Nicolaus increased their price objective on shares of SiTime from $180.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Barclays increased their target price on SiTime from $110.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, May 8th. Raymond James reiterated an “outperform” rating and set a $250.00 target price (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Finally, Needham & Company LLC raised their price objective on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $215.00.

SiTime Company Profile

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.