Rajesh Vashist Sells 12,000 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM - Get Free Report) CEO Rajesh Vashist sold 12,000 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $259.25, for a total value of $3,111,000.00. Following the completion of the sale, the chief executive officer now owns 24,781 shares in the company, valued at $6,424,474.25. This trade represents a 32.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, September 19th, Rajesh Vashist sold 20,000 shares of SiTime stock. The shares were sold at an average price of $170.07, for a total transaction of $3,401,400.00.

SiTime Stock Down 2.2 %

SITM stock traded down $5.51 during midday trading on Monday, reaching $247.11. The stock had a trading volume of 273,132 shares, compared to its average volume of 205,972. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of -58.96 and a beta of 1.86. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18. The business has a fifty day simple moving average of $201.30 and a two-hundred day simple moving average of $161.14.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The business had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. During the same period in the previous year, the firm posted ($0.81) earnings per share. SiTime's revenue for the quarter was up 62.4% compared to the same quarter last year. On average, equities analysts predict that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of SiTime from $175.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Barclays lifted their price objective on SiTime from $90.00 to $130.00 and gave the company an "underweight" rating in a research report on Friday, November 8th. Needham & Company LLC lifted their price target on SiTime from $140.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Roth Mkm increased their price objective on shares of SiTime from $205.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, November 7th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LMR Partners LLP increased its position in shares of SiTime by 705.0% in the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company's stock valued at $13,807,000 after buying an additional 70,500 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of SiTime by 8.0% during the second quarter. Public Sector Pension Investment Board now owns 38,743 shares of the company's stock worth $4,819,000 after purchasing an additional 2,861 shares during the period. Driehaus Capital Management LLC bought a new position in shares of SiTime during the 2nd quarter valued at about $16,831,000. Creative Planning bought a new stake in SiTime during the 3rd quarter worth approximately $842,000. Finally, Los Angeles Capital Management LLC acquired a new stake in SiTime during the 2nd quarter worth approximately $647,000. 84.31% of the stock is currently owned by institutional investors.

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.

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