Insider Selling: SiTime Co. (NASDAQ:SITM) CEO Sells 20,000 Shares of Stock

SiTime Co. (NASDAQ:SITM) CEO Rajesh Vashist sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 424,417 shares in the company, valued at $72,180,599.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

SiTime Trading Up 7.0 %

SITM traded up $11.04 on Thursday, hitting $167.91. 313,188 shares of the stock traded hands, compared to its average volume of 211,125. The business has a fifty day moving average price of $140.28 and a two-hundred day moving average price of $118.38. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $170.71. The firm has a market capitalization of $3.88 billion, a PE ratio of -40.66 and a beta of 1.82.

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

Institutional Trading of SiTime

Several institutional investors have recently made changes to their positions in SITM. Dimensional Fund Advisors LP boosted its stake in SiTime by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock valued at $30,112,000 after buying an additional 35,491 shares in the last quarter. Norges Bank bought a new position in shares of SiTime during the fourth quarter valued at $12,662,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of SiTime by 73.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock valued at $2,750,000 after purchasing an additional 12,500 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of SiTime by 31.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company’s stock worth $1,712,000 after purchasing an additional 4,410 shares during the last quarter. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of SiTime during the 1st quarter worth about $363,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.