Lionel Bonnot Sells 3,501 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) insider Lionel Bonnot sold 3,501 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was 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 directly owns 87,940 shares in the company, valued at approximately $15,323,545. This represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SiTime Trading Up 1.4 %

Shares of SITM opened at $155.15 on Friday. The firm has a market cap of $3.66 billion, a PE ratio of -38.31 and a beta of 1.80. The firm has a fifty day simple moving average of $207.80 and a two-hundred day simple moving average of $190.63. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Raymond James reaffirmed an “outperform” rating and issued a $250.00 price objective (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Barclays upped their price objective on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Roth Mkm upped their price objective on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC upped their price objective on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus upped their price objective on SiTime from $250.00 to $270.00 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 stock. Based on data from MarketBeat.com, SiTime has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

Institutional Investors Weigh In On SiTime

A number of hedge funds have recently added to or reduced their stakes in SITM. Invesco Ltd. raised its stake in SiTime by 11.0% during the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock valued at $210,921,000 after buying an additional 97,062 shares during the last quarter. Hood River Capital Management LLC raised its stake in SiTime by 27.0% during the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company’s stock valued at $90,523,000 after buying an additional 89,632 shares during the last quarter. Emerald Advisers LLC purchased a new stake in SiTime during the 4th quarter valued at $18,673,000. Capital World Investors purchased a new stake in SiTime during the 4th quarter valued at $17,654,000. Finally, Driehaus Capital Management LLC increased its stake in shares of SiTime by 24.2% in the 4th quarter. Driehaus Capital Management LLC now owns 385,325 shares of the company’s stock worth $82,664,000 after purchasing an additional 75,192 shares in the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

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.