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

SiTime Co. (NASDAQ:SITM) insider Lionel Bonnot sold 3,501 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $174.25, for a total transaction of $610,049.25. Following the transaction, the insider now 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

SiTime Price Performance

Shares of SiTime stock opened at $167.97 on Thursday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of -41.47 and a beta of 1.80. The stock’s 50-day moving average is $210.29 and its 200-day moving average is $190.70. SiTime Co. has a one year low of $72.39 and a one year high of $268.18.

Institutional Investors Weigh In On SiTime

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new position in shares of SiTime during the 4th quarter worth approximately $25,000. Castleark Management LLC boosted its holdings in SiTime by 25.0% during the fourth quarter. Castleark Management LLC now owns 38,442 shares of the company’s stock worth $8,247,000 after purchasing an additional 7,680 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in SiTime by 20.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,389 shares of the company’s stock worth $9,523,000 after purchasing an additional 7,475 shares during the last quarter. Vident Advisory LLC grew its position in SiTime by 5.0% in the fourth quarter. Vident Advisory LLC now owns 2,199 shares of the company’s stock valued at $472,000 after purchasing an additional 104 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in SiTime in the 4th quarter valued at $217,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

SITM has been the subject of several research analyst reports. Barclays boosted their price target on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a report on Friday, January 17th. 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. Needham & Company LLC raised their price target 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 set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Finally, Stifel Nicolaus increased their target price on SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

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.