Insider Selling: SiTime Co. (NASDAQ:SITM) EVP Sells 1,041 Shares of Stock

SiTime Co. (NASDAQ:SITM) EVP Piyush B. Sevalia sold 1,041 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 91,693 shares in the company, valued at $11,920,090. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

SiTime Trading Down 3.2 %

SITM opened at $119.93 on Friday. The stock has a 50-day moving average of $95.26 and a 200-day moving average of $105.92. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $141.99.

Analyst Upgrades and Downgrades

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

Institutional Trading of SiTime

Several hedge funds have recently added to or reduced their stakes in SITM. Swedbank AB acquired a new stake in shares of SiTime in the 1st quarter valued at $2,144,000. Grandeur Peak Global Advisors LLC increased its stake in shares of SiTime by 34.7% in the 1st quarter. Grandeur Peak Global Advisors LLC now owns 95,281 shares of the company’s stock valued at $8,883,000 after buying an additional 24,542 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of SiTime in the 1st quarter valued at $346,000. Kennedy Capital Management LLC lifted its holdings in SiTime by 5.5% during the first quarter. Kennedy Capital Management LLC now owns 39,184 shares of the company’s stock worth $3,653,000 after acquiring an additional 2,051 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new position in SiTime during the first quarter worth about $243,000. Institutional investors own 84.31% of the company’s stock.

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.