SiTime Co. (NASDAQ:SITM) Insider Piyush B. Sevalia Sells 1,038 Shares

SiTime Co. (NASDAQ:SITM) insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the transaction, the insider now directly owns 92,847 shares of the company’s stock, valued at $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

SiTime Price Performance

Shares of NASDAQ SITM traded up $29.77 during midday trading on Wednesday, hitting $182.19. The stock had a trading volume of 717,375 shares, compared to its average volume of 217,289. The firm has a market cap of $4.30 billion, a P/E ratio of -44.99 and a beta of 1.85. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18. The company’s 50-day simple moving average is $204.97 and its 200 day simple moving average is $191.67.

Analysts Set New Price Targets

SITM has been the subject of a number of research analyst reports. Needham & Company LLC lifted their target price on shares of SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Stifel Nicolaus boosted their price objective on SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Raymond James restated an “outperform” rating and set a $250.00 target price (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Barclays lifted their price target on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Finally, Roth Mkm increased their price objective on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, SiTime currently has an average rating of “Moderate Buy” and an average price target of $232.00.

Hedge Funds Weigh In On SiTime

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its position in SiTime by 1.1% during the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock valued at $595,113,000 after purchasing an additional 39,119 shares during the period. Vanguard Group Inc. raised its stake in shares of SiTime by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company’s stock worth $529,535,000 after buying an additional 52,310 shares during the last quarter. Invesco Ltd. lifted its holdings in SiTime by 11.0% in the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock valued at $210,921,000 after buying an additional 97,062 shares during the period. State Street Corp boosted its stake in SiTime by 3.1% in the third quarter. State Street Corp now owns 922,974 shares of the company’s stock valued at $158,299,000 after acquiring an additional 27,692 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in SiTime by 16.1% during the 4th quarter. Ameriprise Financial Inc. now owns 515,735 shares of the company’s stock worth $110,641,000 after acquiring an additional 71,658 shares during the period. Institutional investors own 84.31% of the company’s stock.

SiTime Company Profile

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.