Insider Selling: SiTime Co. (NASDAQ:SITM) CEO Sells 12,000 Shares of Stock

SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $259.25, for a total value of $3,111,000.00. Following the transaction, the chief executive officer now directly owns 24,781 shares of the company’s stock, valued at $6,424,474.25. This represents a 32.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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 value of $3,401,400.00.

SiTime Trading Down 2.2 %

NASDAQ:SITM traded down $5.51 on Monday, hitting $247.11. The company’s stock had a trading volume of 273,132 shares, compared to its average volume of 205,972. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The stock has a fifty day moving average of $201.30 and a two-hundred day moving average of $161.14. The firm has a market capitalization of $5.77 billion, a P/E ratio of -58.96 and a beta of 1.86.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. The business had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The company’s quarterly revenue was up 62.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.81) EPS. As a group, sell-side analysts anticipate that SiTime Co. will post -2.98 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in SiTime by 70.0% in the 2nd quarter. Raymond James & Associates now owns 32,607 shares of the company’s stock worth $4,056,000 after buying an additional 13,421 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after buying an additional 88 shares during the last quarter. Atlas Brown Inc. purchased a new stake in SiTime during the 2nd quarter valued at about $259,000. Louisiana State Employees Retirement System increased its position in shares of SiTime by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the company’s stock valued at $1,107,000 after acquiring an additional 200 shares in the last quarter. Finally, Legato Capital Management LLC bought a new position in SiTime during the second quarter valued at approximately $448,000. 84.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Roth Mkm raised their price objective on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays upped their target price on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Finally, Needham & Company LLC boosted their price target on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

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.