SiTime (NASDAQ:SITM) Shares Down 5.4% – What’s Next?

SiTime Co. (NASDAQ:SITM)’s stock price fell 5.4% during trading on Thursday . The stock traded as low as $168.80 and last traded at $168.50. 61,939 shares were traded during mid-day trading, a decline of 73% from the average session volume of 227,357 shares. The stock had previously closed at $178.11.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SITM shares. 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. Stifel Nicolaus increased 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. Barclays boosted their target price on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Finally, Raymond James reaffirmed an “outperform” rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

SiTime Stock Performance

The company has a market capitalization of $3.98 billion, a PE ratio of -41.43 and a beta of 1.85. The company has a 50 day moving average price of $187.51 and a 200 day moving average price of $195.00.

Insider Buying and Selling at SiTime

In related news, insider Lionel Bonnot sold 3,501 shares of the company’s stock in a transaction that occurred 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 approximately $15,323,545. This represents a 3.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the transaction, the insider now directly owns 99,678 shares of the company’s stock, valued at approximately $20,376,176.76. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,544 shares of company stock worth $1,200,095 in the last ninety days. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SITM. Invesco Ltd. raised its stake 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 acquiring an additional 97,062 shares during the period. Hood River Capital Management LLC raised its position in shares of SiTime by 27.0% during the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company’s stock worth $90,523,000 after purchasing an additional 89,632 shares during the period. Emerald Advisers LLC bought a new stake in shares of SiTime in the 4th quarter worth approximately $18,673,000. Capital World Investors acquired a new position in SiTime during the 4th quarter valued at approximately $17,654,000. Finally, Driehaus Capital Management LLC boosted its position in SiTime by 24.2% during the 4th quarter. Driehaus Capital Management LLC now owns 385,325 shares of the company’s stock valued at $82,664,000 after purchasing an additional 75,192 shares during the period. 84.31% of the stock is currently owned by institutional investors.

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.