SiTime (NASDAQ:SITM) Stock Price Down 5.4% – Should You Sell?

SiTime Co. (NASDAQ:SITM) traded down 5.4% during mid-day trading on Thursday . The company traded as low as $168.80 and last traded at $168.50. 61,939 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 227,357 shares. The stock had previously closed at $178.11.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Raymond James restated an “outperform” rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC raised their price objective on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Barclays upped their target price on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SiTime currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.00.

SiTime Stock Down 8.5 %

The business’s 50 day simple moving average is $184.02 and its 200 day simple moving average is $194.94. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -37.63 and a beta of 1.85.

Insider Activity at SiTime

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the transaction, the insider now directly owns 87,940 shares in the company, valued at $15,323,545. The trade was 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 available at this hyperlink. Also, insider Fariborz Assaderaghi sold 1,002 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total transaction of $221,381.88. Following the sale, the insider now owns 100,681 shares of the company’s stock, valued at approximately $22,244,460.14. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,544 shares of company stock worth $1,200,095. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Fourth Dimension Wealth LLC acquired a new position in shares of SiTime in the fourth quarter valued at approximately $25,000. 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 valued at $47,000 after purchasing an additional 67 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in SiTime in the 4th quarter valued at $58,000. Smartleaf Asset Management LLC increased its position in SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after buying an additional 206 shares during the period. Finally, Lazard Asset Management LLC bought a new position in SiTime during the 4th quarter worth $81,000. 84.31% of the stock is owned by 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.