SiTime (NASDAQ:SITM) Stock Price Down 14.9% – Here’s What Happened

SiTime Co. (NASDAQ:SITM) shares traded down 14.9% on Thursday . The stock traded as low as $140.49 and last traded at $134.66. 25,667 shares were traded during trading, a decline of 89% from the average session volume of 233,159 shares. The stock had previously closed at $158.26.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SITM shares. Raymond James reiterated an “outperform” rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC lifted 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. Barclays lifted 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. Finally, 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. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $232.00.

SiTime Trading Down 16.9 %

The business has a fifty day moving average of $178.11 and a 200 day moving average of $195.62. The company has a market capitalization of $3.10 billion, a PE ratio of -32.48 and a beta of 1.85.

Insider Activity

In other news, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $204.42, for a total value 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. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Piyush B. Sevalia sold 1,038 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the transaction, the insider now owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,542 shares of company stock worth $978,713. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SiTime

Several institutional investors have recently bought and sold shares of SITM. Vanguard Group Inc. raised its position in shares of SiTime by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company’s stock worth $529,535,000 after acquiring an additional 52,310 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of SiTime by 11.0% during the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock valued at $210,921,000 after acquiring an additional 97,062 shares in the last quarter. State Street Corp increased its stake in shares of SiTime by 3.1% in the third quarter. State Street Corp now owns 922,974 shares of the company’s stock valued at $158,299,000 after buying an additional 27,692 shares during the period. Ameriprise Financial Inc. boosted its position in shares of SiTime by 16.1% during the 4th quarter. Ameriprise Financial Inc. now owns 515,735 shares of the company’s stock valued at $110,641,000 after purchasing an additional 71,658 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after purchasing an additional 59,931 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

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.