Federated Hermes Inc. Purchases Shares of 72,000 SiTime Co. (NASDAQ:SITM)

Federated Hermes Inc. purchased a new stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 72,000 shares of the company's stock, valued at approximately $15,446,000. Federated Hermes Inc. owned about 0.31% of SiTime at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SITM. Blue Trust Inc. boosted its stake in SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after purchasing an additional 67 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of SiTime during the 4th quarter worth $58,000. Smartleaf Asset Management LLC increased its stake in shares of SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after purchasing an additional 206 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of SiTime by 8,460.0% in the fourth quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after acquiring an additional 423 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in SiTime in the 4th quarter valued at $130,000. Institutional investors and hedge funds own 84.31% of the company's stock.

Wall Street Analyst Weigh In

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

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Insider Buying and Selling

In other news, insider Fariborz Assaderaghi sold 1,003 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $204.42, for a total transaction of $205,033.26. Following the sale, the insider now owns 99,678 shares in the company, valued at approximately $20,376,176.76. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $174.25, for a total transaction of $610,049.25. Following the sale, the insider now directly owns 87,940 shares in the company, valued at $15,323,545. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,542 shares of company stock worth $978,713 in the last 90 days. 2.30% of the stock is owned by corporate insiders.

SiTime Stock Performance

NASDAQ SITM traded up $0.62 on Tuesday, reaching $137.86. 65,170 shares of the stock traded hands, compared to its average volume of 239,637. The company has a fifty day moving average price of $161.47 and a 200-day moving average price of $193.26. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $268.18. The company has a market cap of $3.25 billion, a price-to-earnings ratio of -34.15 and a beta of 1.98.

SiTime Company Profile

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.