SiTime Co. (NASDAQ:SITM) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 17.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 916,693 shares of the company's stock after selling 199,982 shares during the period. Franklin Resources Inc. owned approximately 3.92% of SiTime worth $196,658,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in SiTime by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company's stock worth $529,535,000 after buying an additional 52,310 shares during the last quarter. State Street Corp lifted its holdings in shares of SiTime by 3.1% in 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. boosted its stake in shares of SiTime by 15.4% during the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock worth $76,996,000 after purchasing an additional 59,931 shares during the period. Geode Capital Management LLC grew its holdings in SiTime by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 440,922 shares of the company's stock valued at $75,637,000 after purchasing an additional 15,759 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in 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 currently owned by institutional investors.

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Insider Transactions at SiTime

In other news, insider Piyush B. Sevalia sold 1,038 shares of the 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 transaction, the insider now directly owns 92,847 shares in the company, valued at approximately $14,636,401.08. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $174.25, for a total transaction of $610,049.25. Following the transaction, the insider now directly owns 87,940 shares in the company, 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. In the last 90 days, insiders have sold 5,542 shares of company stock valued at $978,713. 2.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Barclays boosted their target price on SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Needham & Company LLC boosted 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. Stifel Nicolaus upped their price objective on SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, Raymond James reiterated an "outperform" rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, SiTime has an average rating of "Moderate Buy" and a consensus price target of $232.00.

SiTime Stock Down 6.4 %

NASDAQ:SITM traded down $8.17 during midday trading on Friday, hitting $119.23. The stock had a trading volume of 643,793 shares, compared to its average volume of 236,346. The stock has a 50-day moving average of $172.95 and a 200 day moving average of $195.24. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of -29.44 and a beta of 1.98. SiTime Co. has a one year low of $72.39 and a one year high of $268.18.

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.