SiTime (NASDAQ:SITM) Shares Gap Down – What’s Next?

SiTime Co. (NASDAQ:SITM)’s share price gapped down prior to trading on Monday . The stock had previously closed at $179.88, but opened at $176.00. SiTime shares last traded at $178.37, with a volume of 43,668 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Roth Mkm raised their target price on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC upped their target price on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Raymond James reiterated an “outperform” rating and issued a $250.00 target price (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Stifel Nicolaus upped their price target 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 objective 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. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $232.00.

SiTime Stock Down 2.8 %

The business has a fifty day moving average of $226.44 and a 200 day moving average of $187.25.

Insider Activity

In related news, Director Raman Chitkara sold 500 shares of SiTime stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $265.00, for a total value of $132,500.00. Following the completion of the transaction, the director now directly owns 20,719 shares in the company, valued at approximately $5,490,535. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.16, for a total value of $210,160.00. Following the sale, the insider now owns 108,574 shares in the company, valued at $22,817,911.84. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,934 shares of company stock worth $5,206,598. 2.30% of the stock is currently owned by insiders.

Institutional Trading of SiTime

Several institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in shares of SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after buying an additional 60 shares during the period. Blue Trust Inc. lifted its holdings in 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 last quarter. Smartleaf Asset Management LLC boosted its stake in SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after acquiring an additional 206 shares during the period. AlphaQuest LLC boosted its stake in SiTime by 8,460.0% in the fourth quarter. AlphaQuest LLC now owns 428 shares of the company’s stock valued at $92,000 after acquiring an additional 423 shares during the period. Finally, Van ECK Associates Corp bought a new position in shares of SiTime during the third quarter valued at approximately $123,000. Institutional investors own 84.31% of the company’s stock.

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.