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

SiTime Corporation (NASDAQ:SITM) CEO Rajesh Vashist sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 439,208 shares in the company, valued at approximately $144,499,432. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 value of $579,500.00.
• On Wednesday, October 1st, Rajesh Vashist sold 2,000 shares of SiTime stock. The stock was 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 Down 4.6%

Shares of SITM opened at $306.66 on Wednesday. The stock has a market capitalization of $8.00 billion, a P/E ratio of -103.60 and a beta of 2.36. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $386.00. The firm has a fifty day simple moving average of $285.68 and a two-hundred day simple moving average of $234.20.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.71 by $0.16. The firm 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 quarterly revenue was up 44.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. Sell-side analysts expect that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Institutional Investors Weigh In On SiTime

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC bought a new position in SiTime in the second quarter worth $25,000. Hantz Financial Services Inc. increased its stake in shares of SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Optiver Holding B.V. lifted its position in SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after acquiring an additional 32 shares during the period. Salomon & Ludwin LLC purchased a new stake in SiTime in the third quarter worth about $47,000. Finally, Global Retirement Partners LLC grew its holdings in SiTime by 3,220.0% in the third quarter. Global Retirement Partners LLC now owns 166 shares of the company’s stock worth $50,000 after purchasing an additional 161 shares during the period. 84.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SITM has been the subject of a number of recent analyst reports. Barclays upped their price target on SiTime from $220.00 to $260.00 and gave the company an “underweight” rating in a research report on Thursday, November 6th. UBS Group upped their target price on SiTime from $355.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Stifel Nicolaus set a $360.00 price target on SiTime in a research note on Thursday, November 6th. Needham & Company LLC boosted their price objective on shares of SiTime from $250.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Roth Capital restated a “buy” rating and issued a $350.00 price objective on shares of SiTime in a report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, SiTime presently has an average rating of “Hold” and an average price target of $329.17.

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.