Fmr LLC Trims Holdings in SiTime Co. (NASDAQ:SITM)

FMR LLC trimmed its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,388,425 shares of the company's stock after selling 81,418 shares during the quarter. FMR LLC owned about 14.51% of SiTime worth $726,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in SITM. Vanguard Group Inc. increased its stake in shares of SiTime by 2.2% in the 4th 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. State Street Corp boosted its holdings in SiTime by 3.1% during the 3rd quarter. State Street Corp now owns 922,974 shares of the company's stock worth $158,299,000 after acquiring an additional 27,692 shares during the last quarter. Principal Financial Group Inc. increased its stake in SiTime by 15.4% in the 3rd 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. Geode Capital Management LLC increased its position in shares of SiTime by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 442,897 shares of the company's stock valued at $95,037,000 after acquiring an additional 1,975 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of SiTime by 36.4% during the 4th quarter. Wellington Management Group LLP now owns 195,573 shares of the company's stock valued at $41,956,000 after purchasing an additional 52,221 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

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SiTime Trading Up 6.1 %

Shares of SITM stock traded up $7.87 during trading hours on Monday, reaching $137.87. The stock had a trading volume of 71,910 shares, compared to its average volume of 239,151. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $268.18. The firm has a market capitalization of $3.25 billion, a PE ratio of -34.04 and a beta of 1.98. The stock's fifty day simple moving average is $163.19 and its 200 day simple moving average is $193.53.

Insider Activity

In other news, insider Piyush B. Sevalia sold 1,038 shares of the firm's 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 owns 92,847 shares in the company, valued at approximately $14,636,401.08. This trade represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lionel Bonnot sold 3,501 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 87,940 shares of the company's stock, valued at $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. Insiders sold 5,542 shares of company stock worth $978,713 in the last three months. Corporate insiders own 2.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus increased their target price 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 raised their target price on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research report on Friday, January 17th. Needham & Company LLC boosted their target price on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Raymond James reiterated an "outperform" rating and set a $250.00 target price (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, SiTime currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.00.

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.