SiTime (NASDAQ:SITM) Shares Gap Down - Time to Sell?

SiTime Co. (NASDAQ:SITM - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $179.88, but opened at $176.00. SiTime shares last traded at $178.37, with a volume of 43,668 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SITM. Roth Mkm raised their price objective on SiTime from $205.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Barclays lifted their price target on SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Stifel Nicolaus lifted their price target on SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Raymond James reiterated an "outperform" rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Finally, Needham & Company LLC lifted their price target on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.00.

SiTime Price Performance

The stock has a 50 day moving average price of $226.44 and a 200-day moving average price of $187.25. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of -41.23 and a beta of 1.80.

Insiders Place Their Bets

In related news, insider Vincent P. Pangrazio sold 3,064 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $255.00, for a total value of $781,320.00. Following the sale, the insider now owns 65,978 shares in the company, valued at approximately $16,824,390. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fariborz Assaderaghi sold 363 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $216.25, for a total value of $78,498.75. Following the completion of the sale, the insider now owns 104,322 shares in the company, valued at $22,559,632.50. This represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,934 shares of company stock valued at $5,206,598. Insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On SiTime

Several institutional investors and hedge funds have recently modified their holdings of SITM. GAMMA Investing LLC raised its holdings in shares of SiTime by 95.0% in the 3rd quarter. GAMMA Investing LLC now owns 743 shares of the company's stock valued at $127,000 after buying an additional 362 shares during the period. Creative Planning purchased a new stake in shares of SiTime in the 3rd quarter valued at $842,000. Swedbank AB raised its holdings in shares of SiTime by 21.7% in the 3rd quarter. Swedbank AB now owns 28,000 shares of the company's stock valued at $4,802,000 after buying an additional 5,000 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of SiTime by 28.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,672 shares of the company's stock valued at $458,000 after buying an additional 595 shares during the period. Finally, Net Worth Advisory Group acquired a new position in SiTime during the 3rd quarter worth $209,000. 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.