Vincent P. Pangrazio, an executive at SiTime Corp (NASDAQ:SITM), recently sold 3,465 shares of company stock, resulting in a total sale value of over $438,842. The shares were sold at an average price of $126.65, with individual transactions ranging from $125.01 to $129.50 per share.
The sale was disclosed in a filing with the Securities and Exchange Commission, where it was also noted that Pangrazio still retains 73,099 shares of SiTime Corp following the transaction. This holding includes 54,604 shares that are issuable upon the vesting of previously reported restricted stock units and performance-based restricted stock units.
In addition to the sale, Pangrazio also forfeited 2,730 shares as part of an automatic transaction, which had a total value of $357,275 at a price of $130.87 per share. This type of transaction is typically related to the vesting of equity awards and the payment of taxes associated with that vesting.
Pangrazio serves as the Executive Vice President, Chief Legal Officer, and Corporate Secretary of SiTime Corp, a company specializing in semiconductor and related devices. The recent transactions provide insight into the executive's trading activities and current stake in the company.
Investors often monitor such filings to gain a better understanding of insider sentiment and actions within the company. While the reasons behind Pangrazio's stock sale were not disclosed, the transactions are part of the public record for shareholders and the investing community to review.
InvestingPro Insights
As SiTime Corp (NASDAQ:SITM) continues to navigate the semiconductor industry landscape, recent insider transactions have drawn attention. Vincent P. Pangrazio's sale of shares adds a layer of investor interest, which is further enriched by the financial metrics and analysis available from InvestingPro. Here are some key insights:
SiTime Corp holds a market capitalization of approximately $2.83 billion, reflecting the investor valuation of the company. Despite not having turned a profit in the last twelve months, analysts predict that SiTime will reach profitability this year. This forward-looking optimism is bolstered by SiTime's strong liquidity position, as it holds more cash than debt on its balance sheet and has liquid assets that exceed short-term obligations.
The stock's performance has been notably strong in the short term, with a 68.06% return over the last month and a 25.89% return over the last three months. These figures underscore the stock's volatility but also highlight the potential for significant gains. In terms of valuation, SiTime is trading at a high revenue valuation multiple, with a Price/Book ratio of 4.14 as of the last twelve months leading up to Q1 2024.
For investors seeking a deeper analysis, there are additional InvestingPro Tips available, including insights into SiTime's revenue growth and valuation metrics. Prospective and current shareholders can utilize the coupon code PRONEWS24 to receive an extra 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. With 11 more InvestingPro Tips available, investors can gain a comprehensive understanding of SiTime's financial health and market position.
As the executive team continues to realign their holdings, these InvestingPro insights can provide valuable context for investors looking to make informed decisions about SiTime Corp's stock.
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