SiTime Corp’s filing revealed that its insider Assaderaghi Fariborz unloaded Company’s shares for reported $0.12 million on Mar 27 ’24. In the deal valued at $90.57 per share,1,288 shares were sold. As a result of this transaction, Assaderaghi Fariborz now holds 111,491 shares worth roughly $9.59 million.
Then, Assaderaghi Fariborz sold 1,026 shares, generating $94,725 in total proceeds. Upon selling the shares at $92.33, the insider now owns 90,887 shares.
Before that, Bonnot Lionel sold 260 shares. SiTime Corp shares valued at $24,723 were divested by the insider at a price of $95.09 per share. As a result of the transaction, Bonnot Lionel now holds 77,188 shares, worth roughly $6.64 million.
Wolfe Research initiated its SiTime Corp [SITM] rating to an Outperform in a research note published on July 20, 2023; the price target was $160. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in early May from “an Overweight” to “an Equal weight”. Needham also remained covering SITM and has decreased its forecast on May 04, 2023 with a “Hold” recommendation from previously “Buy” rating. Credit Suisse started covering the stock on November 16, 2022. It rated SITM as “an Outperform”.
Price Performance Review of SITM
On Tuesday, SiTime Corp [NASDAQ:SITM] saw its stock jump 1.47% to $86.02. Over the last five days, the stock has lost -4.62%. SiTime Corp shares have fallen nearly -29.54% since the year began. Nevertheless, the stocks have fallen -33.88% over the past one year. While a 52-week high of $141.99 was reached on 02/12/24, a 52-week low of $81.09 was recorded on 04/08/24. SMA at 50 days reached $98.20, while 200 days put it at $113.18. A total of 0.28 million shares were traded, compared to the trading of 0.28 million shares in the previous session.
Levels Of Support And Resistance For SITM Stock
The 24-hour chart illustrates a support level at 84.90, which if violated will result in even more drops to 83.78. On the upside, there is a resistance level at 87.13. A further resistance level may holdings at 88.23. The Relative Strength Index (RSI) on the 14-day chart is 40.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.28, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.70%. Stochastics %K at 11.50% indicates the stock is a buying.
How much short interest is there in SiTime Corp?
A steep rise in short interest was recorded in SiTime Corp stocks on Mar 15, 2024, growing by 20000.0 shares to a total of 1.34 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 1.32 million shares. There was a rise of 1.49%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 8.84% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.42.
The most recent change occurred on October 11, 2022 when Needham resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $125.
