Cibc World Markets Corp Invests $373,000 in SiTime Co. (NASDAQ:SITM)

Cibc World Markets Corp purchased a new position in SiTime Co. (NASDAQ:SITM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,739 shares of the company's stock, valued at approximately $373,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SITM. Barclays PLC increased its position in SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after buying an additional 16,964 shares during the period. 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 valued at $60,000 after purchasing an additional 206 shares during the period. Baader Bank Aktiengesellschaft acquired a new stake in SiTime in the 4th quarter valued at approximately $538,000. FMR LLC raised its stake in SiTime by 1.1% during the 3rd 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 in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in SiTime during the 4th quarter worth $4,418,000. Institutional investors and hedge funds own 84.31% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SITM. Stifel Nicolaus raised their price target on SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Needham & Company LLC raised their target price on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Barclays upped their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. 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 note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $232.00.

Remove Ads

SiTime Price Performance

Shares of SITM traded down $11.46 during mid-day trading on Thursday, hitting $166.65. The company's stock had a trading volume of 211,231 shares, compared to its average volume of 227,940. The firm has a 50-day moving average price of $187.51 and a 200 day moving average price of $195.00. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -41.15 and a beta of 1.85.

Insider Buying and Selling at SiTime

In other news, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction that occurred 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 transaction, the insider now directly owns 99,678 shares of the company's stock, valued at $20,376,176.76. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the business's 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 sale, the insider now owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,544 shares of company stock valued at $1,200,095. Corporate insiders own 2.30% of the company's stock.

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.