SiTime Co. (NASDAQ:SITM) CEO Sells $2,508,800.00 in Stock

SiTime Co. (NASDAQ:SITMGet Free Report) CEO Rajesh Vashist sold 20,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $125.44, for a total transaction of $2,508,800.00. Following the completion of the transaction, the chief executive officer now owns 455,367 shares of the company’s stock, valued at $57,121,236.48. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

  • On Monday, June 17th, Rajesh Vashist sold 4,000 shares of SiTime stock. The shares were sold at an average price of $124.17, for a total transaction of $496,680.00.

SiTime Stock Performance

NASDAQ:SITM opened at $120.13 on Thursday. The firm has a 50-day simple moving average of $108.37 and a two-hundred day simple moving average of $107.37. The firm has a market cap of $2.75 billion, a P/E ratio of -29.09 and a beta of 1.83. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $141.99.

SiTime (NASDAQ:SITMGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.17). The firm had revenue of $33.02 million for the quarter, compared to the consensus estimate of $32.02 million. SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. On average, equities research analysts predict that SiTime Co. will post -2.66 EPS for the current year.

Institutional Trading of SiTime

A number of institutional investors and hedge funds have recently modified their holdings of SITM. Pineridge Advisors LLC bought a new position in shares of SiTime during the fourth quarter valued at $25,000. Quadrant Capital Group LLC lifted its stake in SiTime by 78.2% during the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock valued at $41,000 after acquiring an additional 147 shares during the period. Nemes Rush Group LLC boosted its holdings in shares of SiTime by 26.9% during the 4th quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock valued at $66,000 after acquiring an additional 115 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of SiTime by 35.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock worth $84,000 after acquiring an additional 180 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of SiTime by 24.4% during the fourth quarter. Assetmark Inc. now owns 781 shares of the company’s stock valued at $95,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC raised SiTime from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, SiTime presently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Read Our Latest Report on SiTime

SiTime Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for SiTime (NASDAQ:SITM)

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