Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells 3,501 Shares of Stock

SiTime Co. (NASDAQ:SITM) insider Lionel Bonnot sold 3,501 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the sale, the insider now owns 87,940 shares of the company’s stock, valued at approximately $15,323,545. This trade represents a 3.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

SiTime Stock Down 8.9 %

NASDAQ:SITM opened at $153.04 on Friday. The business’s 50 day moving average is $209.03 and its two-hundred day moving average is $190.44. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18. The company has a market cap of $3.61 billion, a PE ratio of -37.79 and a beta of 1.80.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays increased 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. Needham & Company LLC increased their price target on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Stifel Nicolaus increased their price target on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Raymond James reissued an “outperform” rating and issued a $250.00 price target (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Finally, Roth Mkm increased their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. FMR LLC lifted its holdings in SiTime by 1.1% during the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after buying an additional 39,119 shares during the last quarter. Vanguard Group Inc. raised its position in shares of SiTime by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company’s stock worth $529,535,000 after purchasing an additional 52,310 shares during the period. Invesco Ltd. raised its position in shares of SiTime by 11.0% during the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock worth $210,921,000 after purchasing an additional 97,062 shares during the period. State Street Corp raised its position in shares of SiTime by 3.1% during the 3rd quarter. State Street Corp now owns 922,974 shares of the company’s stock worth $158,299,000 after purchasing an additional 27,692 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of 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 purchasing 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.