SiTime Corporation (NASDAQ:SITM – Get Free Report) CEO Rajesh Vashist sold 12,000 shares of SiTime stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $603.47, for a total transaction of $7,241,640.00. Following the transaction, the chief executive officer directly owned 345,544 shares in the company, valued at $208,525,437.68. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Rajesh Vashist also recently made the following trade(s):
- On Monday, June 15th, Rajesh Vashist sold 5,000 shares of SiTime stock. The stock was sold at an average price of $750.00, for a total transaction of $3,750,000.00.
- On Monday, June 15th, Rajesh Vashist sold 15,000 shares of SiTime stock. The shares were sold at an average price of $750.20, for a total transaction of $11,253,000.00.
SiTime Trading Up 2.1%
NASDAQ SITM traded up $12.40 during trading on Thursday, hitting $602.27. 590,200 shares of the company’s stock traded hands, compared to its average volume of 320,427. The stock has a fifty day moving average of $601.16 and a two-hundred day moving average of $569.47. SiTime Corporation has a 12-month low of $243.68 and a 12-month high of $901.81. The firm has a market cap of $18.11 billion, a P/E ratio of 1,229.12 and a beta of 2.86. The company has a debt-to-equity ratio of 1.29, a current ratio of 19.44 and a quick ratio of 18.50.
Institutional Investors Weigh In On SiTime
Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its stake in shares of SiTime by 73,098.9% during the 2nd quarter. California State Teachers Retirement System now owns 18,779,165 shares of the company’s stock valued at $14,000,994,000 after purchasing an additional 18,753,510 shares in the last quarter. BlackRock Inc. bought a new position in SiTime in the second quarter worth about $1,781,937,000. Invesco Ltd. lifted its holdings in SiTime by 1.8% in the third quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock worth $312,550,000 after buying an additional 18,165 shares during the period. State Street Corp lifted its holdings in SiTime by 3.7% in the second quarter. State Street Corp now owns 911,280 shares of the company’s stock worth $194,176,000 after buying an additional 32,178 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of SiTime by 22.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after acquiring an additional 132,948 shares during the period. 84.31% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have weighed in on SITM shares. UBS Group boosted their price objective on SiTime from $775.00 to $840.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of SiTime from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Needham & Company LLC upped their price target on shares of SiTime from $850.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, August 6th. The Goldman Sachs Group reissued a “buy” rating and set a $900.00 price target on shares of SiTime in a research report on Thursday, August 6th. Finally, Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, SiTime currently has an average rating of “Buy” and an average target price of $761.25.
Get Our Latest Stock Report on SiTime
About SiTime
SiTime Corporation (NASDAQ: SITM) is a semiconductor company that develops precision timing solutions based on microelectromechanical systems (MEMS) technology. Its products are designed to generate, distribute and synchronize the timing signals used by electronic systems and are intended to provide alternatives to traditional quartz-based timing components.
The company’s portfolio includes MEMS oscillators, clock generators, clock buffers, resonators and related timing devices. These products are used in applications such as data centers, wired and wireless communications infrastructure, automotive systems, industrial equipment, consumer electronics, aerospace and defense systems, and other high-performance electronic devices.
SiTime was founded in 2004 and is headquartered in Santa Clara, California.
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