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

SiTime Co. (NASDAQ:SITM) EVP Piyush B. Sevalia sold 1,041 shares of SiTime stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $130.00, for a total transaction of $135,330.00. Following the transaction, 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 SEC, which is available through the SEC website.

SiTime Trading Down 3.2 %

SITM opened at $119.93 on Friday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $141.99. The company has a 50 day simple moving average of $95.26 and a two-hundred day simple moving average of $105.92.

Hedge Funds Weigh In On SiTime

A number of hedge funds have recently modified their holdings of SITM. FMR LLC lifted its holdings in shares of SiTime by 7.5% in the third quarter. FMR LLC now owns 3,054,878 shares of the company’s stock worth $349,020,000 after buying an additional 212,615 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of SiTime by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after buying an additional 85,800 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of SiTime by 2.9% in the fourth quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock worth $108,908,000 after buying an additional 25,324 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of SiTime by 8.2% in the third quarter. Ameriprise Financial Inc. now owns 613,583 shares of the company’s stock worth $70,102,000 after buying an additional 46,672 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of SiTime by 0.5% in the fourth quarter. Principal Financial Group Inc. now owns 359,929 shares of the company’s stock worth $43,940,000 after buying an additional 1,912 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.