Piyush B. Sevalia Sells 1,038 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) insider Piyush B. Sevalia sold 1,038 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the transaction, the insider now directly owns 92,847 shares of the company’s stock, valued at $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

SiTime Stock Performance

Shares of SITM stock opened at $178.08 on Friday. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of -43.97 and a beta of 1.85. The firm’s 50-day moving average is $203.12 and its 200-day moving average is $191.51.

Wall Street Analyst Weigh In

Several brokerages recently commented on SITM. Roth Mkm increased their target price on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Raymond James restated an “outperform” rating and set a $250.00 price objective (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 company a “buy” rating in a research report on Thursday, February 6th. Stifel Nicolaus increased their price target on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Barclays boosted their price target on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $232.00.

Hedge Funds Weigh In On SiTime

A number of institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp acquired a new position in shares of SiTime during the 3rd quarter worth approximately $123,000. Amalgamated Bank boosted its position in SiTime by 2.3% during the third quarter. Amalgamated Bank now owns 5,509 shares of the company’s stock worth $945,000 after purchasing an additional 122 shares during the period. Principal Financial Group Inc. increased its holdings 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 valued at $76,996,000 after purchasing an additional 59,931 shares during the last quarter. Atria Investments Inc bought a new position in shares of SiTime in the third quarter valued at about $228,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of SiTime during the 3rd quarter worth about $236,000. 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.