SiTime (NASDAQ:SITM) Shares Gap Down - Should You Sell?

SiTime Co. (NASDAQ:SITM - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $174.84, but opened at $165.01. SiTime shares last traded at $164.68, with a volume of 65,143 shares traded.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Barclays raised their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a 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 report on Thursday, February 6th. Needham & Company LLC raised their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Stifel Nicolaus raised their price objective on shares of SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, SiTime presently has an average rating of "Moderate Buy" and an average price target of $232.00.

SiTime Trading Up 5.4 %

The company has a market cap of $3.94 billion, a price-to-earnings ratio of -41.24 and a beta of 1.85. The firm's 50-day moving average price is $196.12 and its 200 day moving average price is $192.36.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,002 shares of SiTime stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total value of $221,381.88. Following the completion of the sale, the insider now owns 100,681 shares of the company's stock, valued at approximately $22,244,460.14. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction on 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 directly owns 92,847 shares of the company's stock, valued at approximately $14,636,401.08. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,544 shares of company stock valued at $1,200,095. 2.30% of the stock is owned by company insiders.

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Hedge Funds Weigh In On SiTime

Hedge funds have recently bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new position in SiTime during the 4th quarter worth $25,000. Blue Trust Inc. boosted its holdings in SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after acquiring an additional 67 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in SiTime during the 4th quarter worth $58,000. Smartleaf Asset Management LLC boosted its holdings in SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after acquiring an additional 206 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in SiTime during the 4th quarter worth $81,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

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.