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

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Raymond James restated an “outperform” rating and issued a $250.00 target price (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. 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. Barclays boosted their price objective on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Finally, 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 note on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $232.00.

SiTime Stock Down 16.9 %

The company’s 50 day simple moving average is $178.11 and its 200-day simple moving average is $195.62. The firm has a market cap of $3.10 billion, a P/E ratio of -32.48 and a beta of 1.85.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,003 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $204.42, for a total transaction of $205,033.26. Following the transaction, the insider now directly owns 99,678 shares of the company’s stock, valued at $20,376,176.76. This represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Lionel Bonnot sold 3,501 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $174.25, for a total transaction of $610,049.25. Following the transaction, the insider now owns 87,940 shares in the company, valued at $15,323,545. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,542 shares of company stock valued at $978,713 over the last quarter. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of SiTime

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