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

SiTime Co. (NASDAQ:SITM) 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SITM shares. Needham & Company LLC boosted their price objective on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Raymond James restated an “outperform” rating and issued a $250.00 price target (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Stifel Nicolaus upped their target price on SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Barclays lifted their price target on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. 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 market capitalization of $3.67 billion, a PE ratio of -38.44 and a beta of 1.85. The business’s fifty day moving average price is $180.06 and its two-hundred day moving average price is $195.88.

Insider Activity

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $204.42, for a total value of $205,033.26. Following the transaction, the insider now owns 99,678 shares of the company’s stock, valued at $20,376,176.76. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,544 shares of company stock valued at $1,200,095. Company insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC grew its stake in shares of SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company’s stock worth $6,515,000 after purchasing an additional 16,964 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after purchasing an additional 206 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in SiTime in the 4th quarter worth about $538,000. Proficio Capital Partners LLC purchased a new position in SiTime during the fourth quarter worth approximately $4,418,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of SiTime in the third quarter valued at approximately $166,000. 84.31% of the stock is owned by institutional investors and hedge funds.

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.