EAM Global Investors LLC bought a new position in SiTime Co. (NASDAQ:SITM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 16,851 shares of the company's stock, valued at approximately $3,615,000. EAM Global Investors LLC owned about 0.07% of SiTime as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the company. Invesco Ltd. grew its position in shares of SiTime by 11.0% in the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company's stock worth $210,921,000 after buying an additional 97,062 shares during the period. Emerald Advisers LLC bought a new position in SiTime in the 4th quarter worth about $18,673,000. Federated Hermes Inc. purchased a new position in SiTime in the fourth quarter worth about $15,446,000. Principal Financial Group Inc. grew its holdings in shares of SiTime by 15.4% during the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after buying an additional 59,931 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of SiTime by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company's stock valued at $529,535,000 after acquiring an additional 52,310 shares in the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.
SiTime Stock Performance
SiTime stock traded down $5.11 during midday trading on Monday, hitting $124.36. 30,341 shares of the company's stock were exchanged, compared to its average volume of 240,574. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -30.71 and a beta of 1.98. The firm's 50 day simple moving average is $158.11 and its 200 day simple moving average is $192.15. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Stifel Nicolaus cut 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. Needham & Company LLC raised their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Raymond James reaffirmed an "outperform" rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Finally, Barclays boosted their price objective 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. 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, SiTime has an average rating of "Moderate Buy" and a consensus target price of $214.00.
Check Out Our Latest Stock Analysis on SITM
Insiders Place Their Bets
In other SiTime news, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction 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 directly owns 92,847 shares of the company's stock, valued at approximately $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the sale, the insider now owns 99,678 shares in the company, valued at $20,376,176.76. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,542 shares of company stock valued at $978,713 in the last ninety days. Insiders own 2.30% of the company's stock.
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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