SiTime (NASDAQ:SITM) Trading Down 3.9% - Should You Sell?

Shares of SiTime Co. (NASDAQ:SITM - Get Free Report) were down 3.9% during mid-day trading on Monday . The company traded as low as $150.60 and last traded at $147.13. Approximately 41,758 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 240,661 shares. The stock had previously closed at $153.04.

Analyst Ratings Changes

A number of analysts have recently weighed in on SITM shares. Needham & Company LLC upped 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. Raymond James reissued an "outperform" rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Barclays cut their target price on shares of SiTime from $180.00 to $110.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus cut their target price on shares of SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $204.00.

SiTime Stock Performance

The business's 50 day moving average is $152.65 and its 200-day moving average is $189.85. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -38.79 and a beta of 1.98.

Insider Activity at SiTime

In other news, insider Lionel Bonnot sold 3,501 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $174.25, for a total transaction 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 represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,003 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total transaction of $205,033.26. Following the transaction, the insider now owns 99,678 shares in the company, valued at $20,376,176.76. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,542 shares of company stock worth $978,713 over the last three months. Company insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On SiTime

Large investors have recently bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new stake in SiTime in the 4th quarter valued at $25,000. Opal Wealth Advisors LLC bought a new position in shares of SiTime in the first quarter valued at $32,000. Blue Trust Inc. raised its holdings in shares of SiTime by 44.7% in the fourth 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 last quarter. Aster Capital Management DIFC Ltd purchased a new stake in SiTime during the fourth quarter worth about $58,000. Finally, Smartleaf Asset Management LLC boosted its position in SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after purchasing an additional 206 shares during the period. Institutional investors 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.