Piyush B. Sevalia Sells 1,041 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM - Get Free Report) EVP Piyush B. Sevalia sold 1,041 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $130.00, for a total value of $135,330.00. Following the sale, the executive vice president now directly owns 91,693 shares of the company's stock, valued at $11,920,090. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

SiTime Stock Performance

NASDAQ:SITM traded down $2.14 during trading hours on Wednesday, reaching $123.88. The stock had a trading volume of 260,300 shares, compared to its average volume of 211,922. The stock has a 50 day simple moving average of $93.95 and a 200 day simple moving average of $105.70. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $141.99. The stock has a market cap of $2.83 billion, a P/E ratio of -30.39 and a beta of 1.78.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC raised SiTime from a "hold" rating to a "buy" rating and set a $130.00 target price for the company in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $140.00.

Institutional Trading of SiTime

Large investors have recently bought and sold shares of the company. Pineridge Advisors LLC purchased a new position in shares of SiTime in the fourth quarter valued at $25,000. Quadrant Capital Group LLC grew its position in shares of SiTime by 78.2% in the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company's stock valued at $41,000 after purchasing an additional 147 shares in the last quarter. Nemes Rush Group LLC grew its position in shares of SiTime by 26.9% in the fourth quarter. Nemes Rush Group LLC now owns 542 shares of the company's stock valued at $66,000 after purchasing an additional 115 shares in the last quarter. Amica Retiree Medical Trust grew its position in shares of SiTime by 479.5% in the third quarter. Amica Retiree Medical Trust now owns 649 shares of the company's stock valued at $74,000 after purchasing an additional 537 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of SiTime by 35.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company's stock valued at $84,000 after purchasing an additional 180 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.