SiTime (NASDAQ:SITM) Trading Down 6.2% – Time to Sell?

Shares of SiTime Co. (NASDAQ:SITM) fell 6.2% on Friday . The company traded as low as $172.00 and last traded at $167.05. 31,671 shares changed hands during trading, a decline of 86% from the average session volume of 219,160 shares. The stock had previously closed at $178.08.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SITM. Barclays boosted their price objective on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Needham & Company LLC increased their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Roth Mkm lifted their target price on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Raymond James reissued an “outperform” rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Finally, Stifel Nicolaus boosted their price objective on 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 issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

SiTime Trading Down 3.9 %

The stock has a market cap of $4.04 billion, a PE ratio of -42.26 and a beta of 1.85. The firm’s 50-day moving average price is $203.12 and its two-hundred day moving average price is $191.51.

Insiders Place Their Bets

In related news, insider Fariborz Assaderaghi sold 1,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $249.42, for a total transaction of $249,420.00. Following the completion of the sale, the insider now owns 101,683 shares of the company’s stock, valued at $25,361,773.86. This represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction 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 completion of the transaction, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,108 shares of company stock worth $5,474,335 over the last 90 days. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC boosted its holdings in SiTime by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company’s stock worth $615,000 after acquiring an additional 48 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in SiTime by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company’s stock worth $2,307,000 after purchasing an additional 57 shares in the last quarter. Blue Trust Inc. boosted its stake in 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 in the last quarter. Summit Investment Advisors Inc. increased its stake in SiTime by 4.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company’s stock valued at $417,000 after purchasing an additional 83 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in SiTime by 0.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock valued at $2,524,000 after purchasing an additional 94 shares in the last quarter. 84.31% of the stock is currently owned by hedge funds and other 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.