SiTime Co. (NASDAQ:SITM) Insider Piyush B. Sevalia Sells 1,038 Shares

SiTime Co. (NASDAQ:SITM) insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction that occurred 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 owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

SiTime Stock Performance

SiTime stock traded up $29.77 during midday trading on Wednesday, reaching $182.19. The stock had a trading volume of 717,375 shares, compared to its average volume of 217,289. The stock has a market capitalization of $4.30 billion, a P/E ratio of -44.99 and a beta of 1.85. The firm’s fifty day simple moving average is $204.97 and its 200-day simple moving average is $191.67. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18.

Analyst Upgrades and Downgrades

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

Institutional Trading of SiTime

A number of hedge funds and other institutional investors have recently made changes to their positions in SITM. Invesco Ltd. boosted its holdings in SiTime by 11.0% during the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock worth $210,921,000 after purchasing an additional 97,062 shares during the last quarter. Hood River Capital Management LLC increased its stake in SiTime by 27.0% in 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 bought a new stake in SiTime during the 4th quarter worth about $18,673,000. Capital World Investors acquired a new position in shares of SiTime during the 4th quarter worth about $17,654,000. Finally, Driehaus Capital Management LLC grew its holdings 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 valued at $82,664,000 after acquiring an additional 75,192 shares in the last quarter. 84.31% of the stock is currently 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.