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

Shares of SiTime Co. (NASDAQ:SITM) gapped down before the market opened on Monday . The stock had previously closed at $174.84, but opened at $165.01. SiTime shares last traded at $164.68, with a volume of 65,143 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on SITM. Raymond James restated an “outperform” rating and issued a $250.00 price target (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Needham & Company LLC lifted their price target on shares of SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Stifel Nicolaus upped their price target on shares of SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Barclays increased their price target on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $232.00.

SiTime Stock Down 8.3 %

The company has a market capitalization of $3.78 billion, a P/E ratio of -39.32 and a beta of 1.85. The company’s fifty day moving average price is $202.20 and its 200 day moving average price is $192.45.

Insider Activity

In other news, insider Vincent P. Pangrazio sold 3,064 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were 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 in the company, valued at approximately $16,824,390. The trade was a 4.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajesh Vashist sold 12,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $259.25, for a total transaction 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 trade represents a 32.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,108 shares of company stock worth $5,474,335. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SITM. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in SiTime in the 4th quarter valued at $6,733,000. Fourth Dimension Wealth LLC bought a new position in SiTime during the fourth quarter worth about $25,000. Castleark Management LLC lifted its holdings in SiTime by 25.0% during the 4th quarter. Castleark Management LLC now owns 38,442 shares of the company’s stock worth $8,247,000 after purchasing an additional 7,680 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in SiTime by 20.2% during 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 acquiring an additional 7,475 shares in the last quarter. Finally, Vident Advisory LLC increased its holdings in shares of SiTime by 5.0% in the fourth quarter. Vident Advisory LLC now owns 2,199 shares of the company’s stock worth $472,000 after purchasing an additional 104 shares during the period. 84.31% of the stock is owned by 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.