Insider Selling: SiTime Co. (NASDAQ:SITM) Insider Sells $610,049.25 in Stock

SiTime Co. (NASDAQ:SITM) insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction dated 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 transaction, the insider now owns 87,940 shares in the company, valued at approximately $15,323,545. This represents a 3.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

SiTime Stock Performance

SITM stock opened at $155.15 on Friday. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18. The business’s 50 day moving average price is $207.80 and its two-hundred day moving average price is $190.63. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of -38.31 and a beta of 1.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SITM. Creative Planning purchased a new position in shares of SiTime during the 3rd quarter worth approximately $842,000. Signaturefd LLC boosted its position in shares of SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of SiTime by 2.2% in 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 in the last quarter. State of Alaska Department of Revenue boosted its position 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 worth $1,834,000 after purchasing an additional 358 shares in the last quarter. Finally, F M Investments LLC boosted its position in shares of SiTime by 1.0% in the 3rd quarter. F M Investments LLC now owns 72,375 shares of the company’s stock worth $12,414,000 after purchasing an additional 744 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SITM shares. Needham & Company LLC boosted their price target on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Barclays boosted 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. Stifel Nicolaus boosted their price target on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Raymond James restated an “outperform” rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Finally, Roth Mkm boosted their price target on 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 issued a buy rating to the stock. According to MarketBeat, SiTime has a consensus rating of “Moderate Buy” and a consensus price target of $232.00.

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.