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

SiTime Co. (NASDAQ:SITM) insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction that occurred on Monday, February 24th. The stock was 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 approximately $15,323,545. This trade represents a 3.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SiTime Trading Down 8.9 %

SiTime stock opened at $153.04 on Friday. The firm has a market capitalization of $3.61 billion, a P/E ratio of -37.79 and a beta of 1.80. The stock has a fifty day moving average price of $209.03 and a 200 day moving average price of $190.44. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SITM shares. Barclays lifted 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. Needham & Company LLC upped their price objective on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Raymond James restated an “outperform” rating and issued a $250.00 price objective (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Stifel Nicolaus upped 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. Finally, Roth Mkm upped their price objective on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $232.00.

Hedge Funds Weigh In On SiTime

Several institutional investors have recently added to or reduced their stakes in the business. Fourth Dimension Wealth LLC acquired a new position in SiTime in the fourth quarter valued at $25,000. Castleark Management LLC increased its stake in SiTime by 25.0% in the fourth quarter. Castleark Management LLC now owns 38,442 shares of the company’s stock valued at $8,247,000 after purchasing an additional 7,680 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in SiTime by 20.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,389 shares of the company’s stock valued at $9,523,000 after purchasing an additional 7,475 shares during the last quarter. Vident Advisory LLC increased its stake in SiTime by 5.0% in the fourth quarter. Vident Advisory LLC now owns 2,199 shares of the company’s stock valued at $472,000 after purchasing an additional 104 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in SiTime in the fourth quarter valued at $217,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.