Rajesh Vashist Sells 20,000 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist sold 20,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $170.07, for a total value of $3,401,400.00. Following the completion of the transaction, the chief executive officer now directly owns 424,417 shares in the company, valued at approximately $72,180,599.19. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

SiTime Price Performance

Shares of NASDAQ:SITM opened at $163.57 on Friday. The firm has a market capitalization of $3.78 billion, a PE ratio of -39.61 and a beta of 1.82. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $170.71. The firm’s 50-day moving average is $140.48 and its two-hundred day moving average is $118.86.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.08. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The firm had revenue of $43.90 million for the quarter, compared to the consensus estimate of $41.01 million. During the same period in the prior year, the firm earned ($1.17) EPS. The firm’s revenue for the quarter was up 58.5% on a year-over-year basis. Analysts expect that SiTime Co. will post -3.03 EPS for the current fiscal year.

Institutional Trading of SiTime

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after purchasing an additional 85,800 shares in the last quarter. Wasatch Advisors LP raised its holdings in SiTime by 2.9% in the fourth quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock valued at $108,908,000 after acquiring an additional 25,324 shares in the last quarter. Principal Financial Group Inc. lifted its stake in SiTime by 15.2% in the second quarter. Principal Financial Group Inc. now owns 388,999 shares of the company’s stock worth $48,384,000 after acquiring an additional 51,407 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in SiTime by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock worth $30,112,000 after acquiring an additional 35,491 shares in the last quarter. Finally, William Blair Investment Management LLC increased its position in shares of SiTime by 62.0% in the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after purchasing an additional 79,648 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on SITM shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 target price on shares of SiTime in a research report on Tuesday, June 25th. Barclays downgraded shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a research note on Tuesday, August 27th. Finally, Stifel Nicolaus increased their price objective on shares of SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th.

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.