Charles Schwab Investment Management Inc. raised its stake in SiTime Co. (NASDAQ:SITM - Free Report) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 171,937 shares of the company's stock after acquiring an additional 6,117 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.74% of SiTime worth $36,886,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Mutual of America Capital Management LLC boosted its position in SiTime by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company's stock valued at $615,000 after buying an additional 48 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of SiTime by 0.5% during the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company's stock valued at $2,307,000 after acquiring an additional 57 shares in the last quarter. Blue Trust Inc. grew its position in SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after acquiring an additional 67 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in SiTime by 0.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company's stock worth $2,524,000 after purchasing an additional 94 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in SiTime by 0.4% in the fourth quarter. New York State Teachers Retirement System now owns 23,700 shares of the company's stock valued at $5,084,000 after purchasing an additional 100 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.
SiTime Stock Performance
Shares of NASDAQ:SITM traded up $5.62 during trading on Wednesday, reaching $183.41. The stock had a trading volume of 161,220 shares, compared to its average volume of 226,058. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18. The firm's fifty day moving average is $193.73 and its 200 day moving average is $193.49. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of -45.29 and a beta of 1.85.
Analyst Upgrades and Downgrades
SITM has been the subject of several recent research reports. Raymond James reaffirmed an "outperform" rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Stifel Nicolaus upped their price target on shares of SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Barclays lifted their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a report on Friday, January 17th. Finally, Needham & Company LLC increased their price objective on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to MarketBeat, SiTime has an average rating of "Moderate Buy" and a consensus target price of $232.00.
View Our Latest Stock Report on SITM
Insider Buying and Selling at SiTime
In related news, insider Fariborz Assaderaghi sold 1,003 shares of the company'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 $20,376,176.76. This represents a 1.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,544 shares of company stock valued at $1,200,095. 2.30% of the stock is currently owned by insiders.
About SiTime
(
Free Report)
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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