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Checking in on SiTime Corp (SITM) after recent insiders movement

In a filing, SiTime Corp revealed its insider Pangrazio Vincent P unloaded Company’s shares for reported $0.35 million on May 09 ’24. In the deal valued at $125.00 per share,2,765 shares were sold. As a result of this transaction, Pangrazio Vincent P now holds 79,294 shares worth roughly $10.08 million.

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Then, Sevalia Piyush B sold 1,768 shares, generating $204,063 in total proceeds. Upon selling the shares at $115.42, the EVP, Marketing now owns 97,136 shares.

Before that, Bonnot Lionel sold 781 shares. SiTime Corp shares valued at $91,439 were divested by the insider at a price of $117.08 per share. As a result of the transaction, Bonnot Lionel now holds 98,299 shares, worth roughly $12.5 million.

Needham upgraded its SiTime Corp [SITM] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who began to cover the stock in mid July with a ‘”an Outperform”‘ rating. Barclays also remained covering SITM and has decreased its forecast on May 05, 2023 with a “an Equal weight” recommendation from previously “an Overweight” rating. Needham revised its rating on May 04, 2023. It rated SITM as “a Hold” which previously was an “a Buy”.

Price Performance Review of SITM

On Tuesday, SiTime Corp [NASDAQ:SITM] saw its stock jump 2.51% to $127.12. Over the last five days, the stock has gained 31.05%. SiTime Corp shares have risen nearly 4.13% since the year began. Nevertheless, the stocks have risen 54.22% over the past one year. While a 52-week high of $141.99 was reached on 05/14/24, a 52-week low of $72.39 was recorded on 04/22/24. SMA at 50 days reached $90.54, while 200 days put it at $109.25. A total of 0.33 million shares were traded, compared to the trading of 0.18 million shares in the previous session.

Levels Of Support And Resistance For SITM Stock

The 24-hour chart illustrates a support level at 124.86, which if violated will result in even more drops to 122.59. On the upside, there is a resistance level at 129.41. A further resistance level may holdings at 131.70. The Relative Strength Index (RSI) on the 14-day chart is 81.30, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 24.02, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.31%. Stochastics %K at 92.18% indicates the stock is a selling.

The most recent change occurred on November 16, 2022 when Credit Suisse began covering the stock and recommended ‘”an Outperform”‘ rating along with a $135 price target.

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