Canada Pension Plan Investment Board Grows Position in SiTime Co. (NASDAQ:SITM)

Canada Pension Plan Investment Board grew its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 211.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,800 shares of the company's stock after purchasing an additional 1,900 shares during the quarter. Canada Pension Plan Investment Board's holdings in SiTime were worth $601,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after buying an additional 67 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of SiTime in the fourth quarter valued at approximately $58,000. Smartleaf Asset Management LLC grew its stake in 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 increased its holdings in SiTime by 8,460.0% during the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after purchasing an additional 423 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in SiTime during the 4th quarter valued at $130,000. 84.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total value of $205,033.26. Following the sale, the insider now owns 99,678 shares of the company's stock, valued at approximately $20,376,176.76. This represents a 1.00 % decrease in their position. 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.

Analyst Upgrades and Downgrades

SITM has been the topic of a number of recent research reports. Barclays dropped their price target on SiTime from $180.00 to $110.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus cut their target price on shares of SiTime from $270.00 to $180.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC boosted their price target on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Finally, Raymond James reiterated an "outperform" rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $204.00.

SiTime Price Performance

SiTime stock traded down $4.44 during trading hours on Monday, reaching $148.60. The stock had a trading volume of 216,953 shares, compared to its average volume of 241,307. SiTime Co. has a 52 week low of $86.73 and a 52 week high of $268.18. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -36.69 and a beta of 1.98. The business's 50 day moving average price is $154.53 and its 200-day moving average price is $190.71.

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.