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

SiTime Co. (NASDAQ:SITM) insider Lionel Bonnot sold 3,501 shares of the 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 sale, the insider now directly owns 87,940 shares of the company’s stock, valued at $15,323,545. This represents a 3.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SiTime Stock Up 4.8 %

Shares of NASDAQ:SITM traded up $7.76 during midday trading on Wednesday, reaching $167.97. The company had a trading volume of 176,564 shares, compared to its average volume of 266,729. The business’s 50 day moving average price is $211.47 and its 200 day moving average price is $190.86. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18. The stock has a market cap of $3.96 billion, a PE ratio of -41.47 and a beta of 1.80.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SITM. Stifel Nicolaus increased 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. Barclays upped their price objective on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Needham & Company LLC lifted their target price on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. 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. Finally, Roth Mkm lifted their price objective on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, SiTime currently has an average rating of “Moderate Buy” and a consensus target price of $232.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SITM. Creative Planning bought a new position in shares of SiTime in the third quarter valued at $842,000. Signaturefd LLC grew its position 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 acquiring an additional 60 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of SiTime by 2.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the company’s stock worth $1,561,000 after purchasing an additional 200 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of SiTime by 3.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 10,698 shares of the company’s stock valued at $1,834,000 after purchasing an additional 358 shares during the period. Finally, F M Investments LLC lifted its stake in SiTime by 1.0% in the 3rd quarter. F M Investments LLC now owns 72,375 shares of the company’s stock valued at $12,414,000 after purchasing an additional 744 shares during the last quarter. Institutional investors and hedge funds 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.