SiTime Corporation [SITM] EVP Marketing makes an insider purchase of 772 shares worth 0.15 million.

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. SiTime Corporation shares valued at $146,680 were sold by Sevalia Piyush B on Aug 01. At $190.00 per share, Sevalia Piyush B sold 772 shares. The insider’s holdings dropped to 111,239 shares worth approximately $15.17 million following the completion of this transaction.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free.

Sponsored


Also, VASHIST RAJESH sold 5,000 shares, netting a total of over 895,750 in proceeds. Following the sale of shares at $179.15 each, the insider now holds 540,549 shares.

Before that, VASHIST RAJESH had sold 5,000 shares from its account. In a trade valued at $924,250, the Chief Executive Officer traded SiTime Corporation shares for $184.85 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $74.41 million.

As published in their initiating research note from Credit Suisse on August 30, 2021, SiTime Corporation [SITM] has been an Outperform and the price target has been revised to $225. This represents a 39.38% premium over Thursday’s closing price. Analysts at William Blair started covering the stock with ‘”an Outperform”‘ outlook in a report released in late June. As of April 15, 2020, Needham has reiterated its “Buy” rating for SITM. Earlier on January 17, 2020, Needham resumed its rating. Their recommendation was “a Buy” for SITM stock.

Analyzing SITM’s Price Performance

On Thursday, SiTime Corporation [NASDAQ: SITM] plunged -34.90% to $136.40. The stock’s lowest price that day was $130.01, but it reached a high of $163.20 in the same session. During the last five days, there has been a drop of approximately -24.69%. Over the course of the year, SiTime Corporation shares have dropped approximately -53.37%. Shares of the company reached a 52-week high of $303.86 on 01/03/22 and a 52-week low of $129.44 on 07/05/22. A 50-day SMA is recorded $179.35, while a 200-day SMA reached $216.80. Nevertheless, trading volume fell to 2.11 million shares from 0.26 million shares the previous day.

Support And Resistance Levels for SiTime Corporation (SITM)

According to the 24-hour chart, there is a support level at 123.21, which, if violated, would cause prices to drop to 110.01. In the upper region, resistance lies at 156.40. The next price resistance is at 176.39. RSI (Relative Strength Index) is 36.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.90, which suggests the price will increase in the coming days. Percent R is at 91.98%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is SiTime Corporation subject to short interest?

Stocks of SiTime Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by 69790.0 shares to 0.69 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 0.76 million shares. A decline of -10.14% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.08 of the overall float, the days-to-cover ratio (short ratio) decline to 3.08.

Which companies own the most shares of SiTime Corporation (SITM)?

According to Fidelity Management & Research Co filings, the company currently owns 2,068,367 shares, which is about 9.83% of the total SITM shares outstanding. The investor’s shares have appreciated by 523,589 from its previous 13-F filing of 1544778.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $247,237,930. Franklin Advisers, Inc. reduced a -3.13% interest valued at $240.42 million while The Vanguard Group, Inc. purchased a 15,551 stake. A total of 48,087 shares of SiTime Corporation were bought by SSgA Funds Management, Inc. during the quarter, and -13,719 were sold by Hood River Capital Management LLC. In its current portfolio, Trigran Investments, Inc. holds 370,485 shares valued at $60.4 million.

In terms of SiTime Corporation share price expectations, FactSet research, analysts set an average price target of $223.00 in the next 12 months, up nearly 5.01% from the previous closing price of $209.51. Analysts anticipate SiTime Corporation stock to reach $250.00 by 2022, with the lowest price target being $195.00. In spite of this, 6 analysts ranked SiTime Corporation stock as a Buy at the end of 2022. On December 16, 2019, Stifel assigned a price target of “a Buy” to the stock and initiated coverage with a $23.

LEAVE A REPLY

Please enter your comment!
Please enter your name here