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

SiTime Co. (NASDAQ:SITM) insider Lionel Bonnot sold 3,501 shares of the 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 in the company, valued at approximately $15,323,545. This represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

SiTime Stock Performance

Shares of SITM traded up $7.76 during trading hours on Wednesday, reaching $167.97. The stock had a trading volume of 176,564 shares, compared to its average volume of 266,729. The stock has a market capitalization of $3.96 billion, a PE ratio of -41.47 and a beta of 1.80. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $268.18. The company’s 50-day moving average is $211.47 and its two-hundred day moving average is $190.86.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SITM shares. Roth Mkm boosted their price target 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 boosted their price objective on shares of SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Raymond James reaffirmed an “outperform” rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Barclays boosted their price target on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Finally, Stifel Nicolaus raised their price objective 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $232.00.

Institutional Trading of SiTime

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in SiTime during the 4th quarter worth approximately $25,000. Signaturefd LLC raised its stake in shares of SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after purchasing an additional 67 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in SiTime in the fourth quarter valued at $58,000. Finally, Smartleaf Asset Management LLC increased its holdings in SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after purchasing an additional 206 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.