Piyush B. Sevalia Sells 5,159 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM – Get Rating) EVP Piyush B. Sevalia sold 5,159 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $126.80, for a total value of $654,161.20. Following the transaction, the executive vice president now directly owns 97,023 shares of the company’s stock, valued at approximately $12,302,516.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

SiTime Stock Up 2.0 %

Shares of SiTime stock opened at $134.03 on Friday. SiTime Co. has a 12-month low of $73.10 and a 12-month high of $270.92. The stock has a market cap of $2.91 billion, a P/E ratio of 130.13 and a beta of 1.86. The business’s 50 day moving average is $115.40 and its 200-day moving average is $102.83.

Institutional Investors Weigh In On SiTime

A number of large investors have recently added to or reduced their stakes in SITM. Raymond James Financial Services Advisors Inc. raised its stake in SiTime by 87.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,084 shares of the company’s stock valued at $1,508,000 after acquiring an additional 2,844 shares during the period. US Bancorp DE raised its stake in SiTime by 94.4% in the 1st quarter. US Bancorp DE now owns 933 shares of the company’s stock valued at $231,000 after acquiring an additional 453 shares during the period. Private Advisor Group LLC bought a new stake in SiTime in the 1st quarter valued at $290,000. PNC Financial Services Group Inc. raised its stake in SiTime by 191.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,095 shares of the company’s stock valued at $270,000 after acquiring an additional 719 shares during the period. Finally, Bank of Montreal Can raised its stake in SiTime by 2,115.2% in the 1st quarter. Bank of Montreal Can now owns 23,370 shares of the company’s stock valued at $6,100,000 after acquiring an additional 22,315 shares during the period. Institutional investors own 74.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SITM. Credit Suisse Group began coverage on SiTime in a research report on Tuesday, November 15th. They set an “outperform” rating and a $135.00 price target for the company. Needham & Company LLC upped their price target on SiTime from $115.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. TheStreet raised SiTime from a “d+” rating to a “c” rating in a research report on Monday, November 21st. Roth Capital upped their price objective on SiTime from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 1st. Finally, Raymond James upped their price objective on SiTime from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, SiTime presently has a consensus rating of “Buy” and an average price target of $140.00.

About SiTime

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SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.