82,290 Shares in SiTime Co. (NASDAQ:SITM) Purchased by Capital World Investors

Capital World Investors purchased a new position in SiTime Co. (NASDAQ:SITM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 82,290 shares of the company's stock, valued at approximately $17,654,000. Capital World Investors owned approximately 0.35% of SiTime at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SITM. Barclays PLC boosted its position in shares of SiTime by 80.7% during the third quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after acquiring an additional 16,964 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of SiTime during the third quarter valued at about $204,000. Sanctuary Advisors LLC purchased a new stake in shares of SiTime in the third quarter worth about $166,000. Principal Financial Group Inc. lifted its position in shares of SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock worth $76,996,000 after buying an additional 59,931 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in SiTime by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 944 shares of the company's stock valued at $203,000 after buying an additional 201 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SITM shares. Barclays upped their price objective on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a report on Friday, January 17th. Raymond James reissued an "outperform" rating and issued a $250.00 price objective (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC boosted their price objective on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus lowered their price objective on SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $214.00.

SiTime Trading Down 2.2 %

Shares of NASDAQ:SITM opened at $126.57 on Tuesday. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -31.25 and a beta of 1.98. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $268.18. The firm's 50-day moving average is $157.29 and its 200 day moving average is $191.78.

Insider Activity

In other news, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the sale, the insider now owns 92,847 shares of the company's stock, valued at approximately $14,636,401.08. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total value of $205,033.26. Following the completion of the transaction, the insider now directly owns 99,678 shares in the company, valued at approximately $20,376,176.76. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,542 shares of company stock valued at $978,713. 2.30% of the stock is currently owned by insiders.

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.

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