SiTime (NASDAQ:SITM) Stock Price Down 14.9% – Time to Sell?

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SITM shares. Barclays lifted 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. Stifel Nicolaus lifted their target price on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC upped their price target on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Raymond James restated an “outperform” rating and issued a $250.00 price objective (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $232.00.

SiTime Stock Down 6.4 %

The stock has a 50 day simple moving average of $172.95 and a 200 day simple moving average of $194.95. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -29.44 and a beta of 1.98.

Insider Buying and Selling

In related news, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction 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 sale, the insider now owns 92,847 shares of the company’s stock, valued at $14,636,401.08. The trade was a 1.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lionel Bonnot sold 3,501 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $174.25, for a total transaction of $610,049.25. Following the completion of the transaction, the insider now directly owns 87,940 shares of the company’s stock, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,542 shares of company stock valued at $978,713. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SiTime

Institutional investors have recently made changes to their positions in the business. Fourth Dimension Wealth LLC bought a new stake in shares of SiTime in the fourth quarter worth $25,000. Blue Trust Inc. increased its position in shares of SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after purchasing an additional 67 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of SiTime in the 4th quarter valued at about $58,000. Smartleaf Asset Management LLC lifted its position in shares of SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after purchasing an additional 206 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in SiTime in the fourth quarter worth about $81,000. 84.31% of the stock is owned by institutional investors and hedge funds.

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.