Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells 1,038 Shares of Stock

SiTime Co. (NASDAQ:SITM - Get Free Report) insider Piyush B. Sevalia sold 1,038 shares of the 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 completion of the sale, the insider now owns 92,847 shares of the company's stock, valued at approximately $14,636,401.08. This represents a 1.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SiTime Price Performance

Shares of NASDAQ:SITM traded down $3.24 during trading on Friday, hitting $174.84. 403,168 shares of the company were exchanged, compared to its average volume of 220,916. The company has a market cap of $4.13 billion, a PE ratio of -43.17 and a beta of 1.85. The stock has a 50 day moving average of $202.20 and a 200 day moving average of $192.10. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Barclays increased their price target on shares of SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Raymond James restated an "outperform" rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Finally, Needham & Company LLC increased their price target on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat.com, SiTime presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.00.

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Institutional Investors Weigh In On SiTime

Institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its position in shares of SiTime by 80.7% during the third quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after acquiring an additional 16,964 shares in the last quarter. LMR Partners LLP lifted its position in shares of SiTime by 705.0% during the third quarter. LMR Partners LLP now owns 80,500 shares of the company's stock worth $13,807,000 after acquiring an additional 70,500 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in shares of SiTime during the fourth quarter worth $538,000. FMR LLC lifted its position in shares of SiTime by 1.1% during the third quarter. FMR LLC now owns 3,469,843 shares of the company's stock worth $595,113,000 after acquiring an additional 39,119 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of SiTime during the third quarter worth $166,000. Hedge funds and other 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.