34,086 Shares in SiTime Co. (NASDAQ:SITM) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of SiTime Co. (NASDAQ:SITM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 34,086 shares of the company's stock, valued at approximately $7,312,000. Raymond James Financial Inc. owned about 0.15% of SiTime as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after purchasing an additional 59,931 shares during the period. FMR LLC boosted its holdings in shares of SiTime by 1.1% in the third quarter. FMR LLC now owns 3,469,843 shares of the company's stock valued at $595,113,000 after acquiring an additional 39,119 shares during the period. Peregrine Investment Management Inc. purchased a new position in shares of SiTime during the fourth quarter worth approximately $7,779,000. State Street Corp increased its holdings in shares of SiTime by 3.1% in the 3rd quarter. State Street Corp now owns 922,974 shares of the company's stock valued at $158,299,000 after acquiring an additional 27,692 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in SiTime in the 4th quarter valued at $4,418,000. Hedge funds and other institutional investors own 84.31% of the company's stock.

Insiders Place Their Bets

In related news, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction on Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the completion of the transaction, the insider now directly owns 87,940 shares of the company's stock, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Fariborz Assaderaghi sold 1,002 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total value of $221,381.88. Following the completion of the sale, the insider now directly owns 100,681 shares in the company, valued at $22,244,460.14. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,544 shares of company stock worth $1,200,095. Corporate insiders own 2.30% of the company's stock.

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SiTime Stock Down 6.4 %

Shares of SiTime stock traded down $11.46 during trading on Thursday, reaching $166.65. The company's stock had a trading volume of 211,189 shares, compared to its average volume of 227,940. The business has a 50 day moving average price of $187.51 and a 200-day moving average price of $195.00. The company has a market capitalization of $3.93 billion, a P/E ratio of -41.15 and a beta of 1.85. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SITM shares. Needham & Company LLC raised their price target on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Stifel Nicolaus boosted their target price on SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Raymond James reaffirmed an "outperform" rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Finally, Barclays boosted their price objective on shares of SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, SiTime has a consensus rating of "Moderate Buy" and a consensus target price of $232.00.

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.