SiTime (NASDAQ:SITM) Shares Gap Down – Time to Sell?

SiTime Co. (NASDAQ:SITM)’s share price gapped down before the market opened on Monday . The stock had previously closed at $179.88, but opened at $176.00. SiTime shares last traded at $178.37, with a volume of 43,668 shares.

Analyst Upgrades and Downgrades

SITM has been the topic of a number of analyst reports. Stifel Nicolaus lifted 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. Needham & Company LLC boosted their price target 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 increased their price target 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 reaffirmed an “outperform” rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Finally, Barclays increased their target price on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.00.

SiTime Trading Down 2.8 %

The firm’s 50-day simple moving average is $226.44 and its two-hundred day simple moving average is $187.25.

Insider Buying and Selling

In other news, CEO Rajesh Vashist sold 12,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $259.25, for a total value of $3,111,000.00. Following the sale, the chief executive officer now directly owns 24,781 shares in the company, valued at $6,424,474.25. This represents a 32.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vincent P. Pangrazio sold 3,064 shares of SiTime stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $255.00, for a total value of $781,320.00. Following the transaction, the insider now owns 65,978 shares of the company’s stock, valued at $16,824,390. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,934 shares of company stock worth $5,206,598 in the last quarter. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On SiTime

A number of large investors have recently bought and sold shares of SITM. Barclays PLC lifted its holdings in SiTime by 80.7% in the 3rd quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after purchasing an additional 16,964 shares in the last quarter. LMR Partners LLP lifted its position in SiTime by 705.0% during the third quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after buying an additional 70,500 shares during the period. Creative Planning acquired a new stake in SiTime in the 3rd quarter worth about $842,000. Baader Bank Aktiengesellschaft purchased a new stake in SiTime in the 4th quarter valued at about $538,000. Finally, FMR LLC increased its stake in shares of SiTime by 1.1% during the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock valued at $595,113,000 after acquiring an additional 39,119 shares during the last quarter. 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.