High latency on VMs but nothing odd in ESXTOP

I've noticed some spiky latency on some of my VMs. Below is an image of the performance graphs as well as a quick look at esxtop, the red line being the VM. Is this at a level where I should be concerned? I'm surprised there's latency at all. This is happening with quite a few of my production VMs. Any help would be appreciated. Thanks!

vSphere Version: 5.5

Cores for this VM: 2:2

No resource pools configured. There just isn't enough demand imo.

Here's the VM graph. Sometimes latency can be as high as 30% throughout the day:

Thanks in advance!