Insider Selling: SiTime Co. (NASDAQ:SITM) CEO Sells $764,857.50 in Stock

SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist sold 9,271 shares of the stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $82.50, for a total transaction of $764,857.50. Following the completion of the transaction, the chief executive officer now directly owns 706,029 shares in the company, valued at approximately $58,247,392.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

  • On Wednesday, October 21st, Rajesh Vashist sold 20,000 shares of SiTime stock. The stock was sold at an average price of $90.51, for a total transaction of $1,810,200.00.
  • On Wednesday, September 16th, Rajesh Vashist sold 30,000 shares of SiTime stock. The stock was sold at an average price of $66.52, for a total transaction of $1,995,600.00.

NASDAQ:SITM opened at $88.26 on Monday. The company has a 50-day moving average price of $89.85 and a 200-day moving average price of $62.79. SiTime Co. has a 12 month low of $15.42 and a 12 month high of $112.69. The stock has a market cap of $1.50 billion and a price-to-earnings ratio of -140.10.

SiTime (NASDAQ:SITM) last posted its earnings results on Monday, November 9th. The company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.08. The company had revenue of $32.67 million during the quarter, compared to analysts’ expectations of $31.50 million. On average, equities research analysts expect that SiTime Co. will post -0.67 earnings per share for the current fiscal year.

Several equities analysts recently commented on the stock. Roth Capital increased their target price on shares of SiTime from $80.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 15th. Zacks Investment Research lowered shares of SiTime from a “buy” rating to a “hold” rating in a report on Tuesday, October 6th. Raymond James increased their target price on shares of SiTime from $80.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Needham & Company LLC increased their target price on shares of SiTime from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Finally, Barclays increased their target price on shares of SiTime from $50.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. SiTime presently has an average rating of “Buy” and a consensus target price of $79.14.

Large investors have recently bought and sold shares of the company. FMR LLC purchased a new position in SiTime during the 2nd quarter valued at about $75,786,000. Driehaus Capital Management LLC lifted its position in SiTime by 54.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 748,383 shares of the company’s stock valued at $35,481,000 after acquiring an additional 265,125 shares during the period. BlackRock Inc. lifted its position in SiTime by 71.3% during the 3rd quarter. BlackRock Inc. now owns 620,018 shares of the company’s stock valued at $52,100,000 after acquiring an additional 257,980 shares during the period. Principal Financial Group Inc. lifted its position in SiTime by 47.3% during the 2nd quarter. Principal Financial Group Inc. now owns 472,765 shares of the company’s stock valued at $22,414,000 after acquiring an additional 151,865 shares during the period. Finally, William Blair Investment Management LLC lifted its position in SiTime by 31.7% during the 2nd quarter. William Blair Investment Management LLC now owns 398,901 shares of the company’s stock valued at $18,912,000 after acquiring an additional 95,905 shares during the period. 54.07% of the stock is owned by hedge funds and other institutional investors.

SiTime Company Profile

SiTime Corporation, a semiconductor company, provides silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. Its products include resonators and clock integrated circuits, programmable OCXOs, precision MHz super-TCXOs, MHz oscillators, 32.768 kHz oscillators, µPower oscillators 1 Hz to 26 MHz, ruggedized oscillators, and embedded resonators.

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

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