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Vincent P. Pangrazio, Executive Vice President and Chief Legal Officer of SITime Corp (NASDAQ:SITM), recently sold a significant amount of company stock. According to a Form 4 filing with the Securities and Exchange Commission, Pangrazio disposed of a total of 3,000 shares over two consecutive days, with transactions executed at prices ranging from $180.21 to $190 per share. The total value of these transactions amounted to approximately $555,315. The timing is notable as SITM has shown strong momentum, delivering an impressive 85% return over the past year, according to InvestingPro data.
Following these sales, Pangrazio retains ownership of 69,868 shares in the company. The transactions were conducted under a pre-arranged trading plan, often used by executives to systematically sell shares, minimizing concerns of insider trading. InvestingPro analysis indicates the company maintains robust financial health with a current ratio of 5.02, suggesting strong liquidity position.
Investors often monitor such filings to gauge insider sentiment, as they can offer insights into the executive’s confidence in the company’s future performance. SITime Corp, headquartered in Santa Clara, California, specializes in the production of semiconductors and related devices. With a market capitalization of $4.16 billion and revenue growth of 41% in the last twelve months, analysts expect the company to turn profitable this year. Discover more insights about SITM and access the comprehensive Pro Research Report, along with 12 key ProTips, on InvestingPro.
In other recent news, SiTime Corporation is experiencing significant growth, driven by its exclusive supply of MEMS oscillators for Apple (NASDAQ:AAPL)’s in-house modem used in the iPhone 16e. The company’s revenue is projected to rise substantially, with expectations of reaching $40 million in 2025, $110 million in 2026, and $240 million in 2027, largely due to Apple’s orders. Raymond (NSE:RYMD) James and Needham have both raised their price targets for SiTime to $250, citing strong financial performance and optimistic growth forecasts. Raymond James noted SiTime’s robust leverage and growth in data centers, while Needham highlighted the company’s strong bookings for 2025 and potential expansion in the Consumer Electronics Division. Despite a projected decline in gross margin for the first quarter of 2025, SiTime maintains a solid financial position with nearly $420 million in cash and no debt. The company’s positive outlook is further supported by its success in securing high-value designs for high-performance applications. These developments indicate a promising trajectory for SiTime as it continues to expand its presence in key markets.
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