CloudAlpha Capital Management Limited Hong Kong Takes Position in SiTime Co. (NASDAQ:SITM)

CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of SiTime Co. (NASDAQ:SITM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,537 shares of the company's stock, valued at approximately $1,188,000. SiTime makes up about 0.1% of CloudAlpha Capital Management Limited Hong Kong's portfolio, making the stock its 25th biggest holding.

A number of other hedge funds have also recently made changes to their positions in SITM. Blue Trust Inc. raised its position in SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after purchasing an additional 67 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after buying an additional 206 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of SiTime in the fourth quarter worth about $140,000. Van ECK Associates Corp bought a new stake in shares of SiTime in the 3rd quarter valued at about $123,000. Finally, Assetmark Inc. boosted its holdings in SiTime by 21.2% during the 4th quarter. Assetmark Inc. now owns 882 shares of the company's stock valued at $189,000 after acquiring an additional 154 shares during the period. 84.31% of the stock is currently owned by institutional investors.

SiTime Stock Performance

SITM stock traded up $6.12 on Tuesday, reaching $156.40. The company's stock had a trading volume of 370,641 shares, compared to its average volume of 222,387. The firm has a market cap of $3.69 billion, a PE ratio of -38.62 and a beta of 1.85. The business has a fifty day simple moving average of $200.89 and a two-hundred day simple moving average of $192.55. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18.

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Insiders Place Their Bets

In related news, CEO Rajesh Vashist sold 12,000 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $259.25, for a total transaction of $3,111,000.00. Following the transaction, the chief executive officer now owns 24,781 shares in the company, valued at $6,424,474.25. The trade was a 32.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 22,108 shares of company stock worth $5,224,915. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

SiTime 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.