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

SiTime Co. (NASDAQ:SITM - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $154.56, but opened at $148.53. SiTime shares last traded at $154.07, with a volume of 5,475 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Stifel Nicolaus increased their price target on SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Barclays lifted their price objective 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. Needham & Company LLC upped their target price on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Raymond James reiterated an "outperform" rating and issued a $250.00 price target (up previously from $215.00) on shares of SiTime in a research note 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $232.00.

SiTime Stock Up 0.1 %

The company has a market capitalization of $2.82 billion, a PE ratio of -29.64 and a beta of 1.98. The business has a 50 day simple moving average of $172.95 and a 200 day simple moving average of $195.51.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,003 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total value of $205,033.26. Following the sale, the insider now directly owns 99,678 shares of the company's stock, valued at $20,376,176.76. This represents a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lionel Bonnot sold 3,501 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,542 shares of company stock worth $978,713. Company insiders own 2.30% of the company's stock.

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Hedge Funds Weigh In On SiTime

Institutional investors have recently modified their holdings of the stock. Fourth Dimension Wealth LLC acquired a new stake in SiTime during the fourth quarter worth about $25,000. Blue Trust Inc. raised its position in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after acquiring an additional 67 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of SiTime during the 4th quarter worth about $58,000. Smartleaf Asset Management LLC boosted its stake in shares of 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 in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of SiTime in the 4th quarter valued at about $81,000. Hedge funds and other institutional investors own 84.31% of the company's stock.

About SiTime

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.