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In a recent filing with the Securities and Exchange Commission, SITime Corp (NASDAQ:SITM), a $3.8 billion market cap company whose stock has shown significant volatility with a 67% gain over the past year, reported that Lionel Bonnot, the Executive Vice President of Worldwide Sales and Business Development, sold 3,501 shares of the company’s common stock. The transaction, which took place on February 24, 2025, was executed at a weighted average price of approximately $174.25 per share, amounting to a total sale value of $610,049.
The shares were sold in multiple transactions, with prices ranging from $165.40 to $179.74 per share. Following this sale, Bonnot retains direct ownership of 87,940 shares, which includes 83,928 shares issuable from unvested restricted stock units and performance-based restricted stock units. These unvested units consist of 34,100 restricted stock units that vest over time and 49,828 performance-based units contingent on certain stock price performance criteria. InvestingPro subscribers get access to comprehensive insider trading analysis and 11 additional ProTips that provide deeper insights into SITM’s financial health and market position.
In other recent news, SiTime Corporation reported significant developments in its financial and operational performance. The company experienced notable growth in the automotive and industrial sectors during the December quarter, with revenue projected to increase by 64% year-over-year in the March quarter. Analysts from Raymond (NSE:RYMD) James and Needham have both raised their price targets for SiTime to $250, citing strong financial results and a positive outlook for the company’s future growth. SiTime has also reported robust bookings and anticipates a year-over-year revenue growth of 25-30% for the current year, driven by demand in data centers and consumer electronics.
Despite a decline in gross margin due to lower revenue and increased depreciation expenses, the company’s financial position remains strong with a cash balance of nearly $420 million and no debt. Raymond James reiterated its Outperform rating on SiTime’s shares, highlighting the company’s efficient operational model and potential for sustained growth. Needham also maintained a Buy rating, emphasizing SiTime’s success in securing high-value design wins and its strategic growth initiatives. These developments reflect a positive sentiment among analysts and investors regarding SiTime’s financial trajectory and market position.
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