SiTime Co. (NASDAQ:SITM) Director Raman Chitkara Sells 1,000 Shares

SiTime Co. (NASDAQ:SITM – Get Rating) Director Raman Chitkara sold 1,000 shares of SiTime stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $130.40, for a total value of $130,400.00. Following the completion of the sale, the director now directly owns 19,368 shares in the company, valued at approximately $2,525,587.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Raman Chitkara also recently made the following trade(s):

• On Monday, March 6th, Raman Chitkara sold 948 shares of SiTime stock. The stock was sold at an average price of $135.00, for a total value of $127,980.00.
• On Thursday, March 2nd, Raman Chitkara sold 1,000 shares of SiTime stock. The stock was sold at an average price of $130.35, for a total value of $130,350.00.

SiTime Stock Down 2.4 %

SITM opened at $131.12 on Friday. The business has a fifty day moving average of $121.60 and a 200 day moving average of $103.64. SiTime Co. has a 52-week low of $73.10 and a 52-week high of $270.92. The stock has a market cap of $2.85 billion, a P/E ratio of 127.30 and a beta of 1.86.

Hedge Funds Weigh In On SiTime

A number of large investors have recently bought and sold shares of SITM. Mackenzie Financial Corp lifted its holdings in shares of SiTime by 8.1% in the 1st quarter. Mackenzie Financial Corp now owns 811 shares of the company’s stock worth $201,000 after buying an additional 61 shares during the period. Vahanian & Associates Financial Planning Inc. lifted its holdings in shares of SiTime by 0.6% in the 4th quarter. Vahanian & Associates Financial Planning Inc. now owns 14,081 shares of the company’s stock worth $1,431,000 after buying an additional 90 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of SiTime by 1.2% in the 1st quarter. Yousif Capital Management LLC now owns 8,091 shares of the company’s stock worth $2,005,000 after buying an additional 98 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of SiTime by 2.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 4,300 shares of the company’s stock worth $437,000 after buying an additional 100 shares during the period. Finally, Securian Asset Management Inc. lifted its holdings in shares of SiTime by 7.1% in the 4th quarter. Securian Asset Management Inc. now owns 1,510 shares of the company’s stock worth $153,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 74.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SITM. Roth Capital boosted their target price on SiTime from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Raymond James boosted their target price on SiTime from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Needham & Company LLC boosted their target price on SiTime from $115.00 to $150.00 and gave the company 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. Finally, Barclays boosted their target price on SiTime from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus 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.