Grandeur Peak Global Advisors LLC Sells 42,083 Shares of SiTime Co. (NASDAQ:SITM)

Grandeur Peak Global Advisors LLC decreased its position in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 59.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,718 shares of the company's stock after selling 42,083 shares during the period. Grandeur Peak Global Advisors LLC owned 0.12% of SiTime worth $6,161,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of SiTime by 44.7% during 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 last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of SiTime during the fourth quarter worth approximately $58,000. Smartleaf Asset Management LLC boosted its position 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 acquiring an additional 206 shares during the period. AlphaQuest LLC grew its stake in shares of SiTime by 8,460.0% in the fourth quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after acquiring an additional 423 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of SiTime in the fourth quarter worth $130,000. 84.31% of the stock is currently owned by institutional investors.

Insider Transactions at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction on 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 in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lionel Bonnot sold 3,501 shares of the business's stock in a transaction 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 completion of the sale, the insider now owns 87,940 shares in the company, valued at $15,323,545. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,542 shares of company stock valued at $978,713. Corporate insiders own 2.30% of the company's stock.

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SiTime Stock Up 0.7 %

SITM traded up $1.00 during midday trading on Tuesday, reaching $138.24. 184,444 shares of the company's stock were exchanged, compared to its average volume of 240,182. The business has a 50-day simple moving average of $161.47 and a two-hundred day simple moving average of $193.26. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of -34.13 and a beta of 1.98. SiTime Co. has a one year low of $72.39 and a one year high of $268.18.

Wall Street Analysts Forecast Growth

SITM has been the subject of a number of research reports. Raymond James reissued an "outperform" rating and issued a $250.00 price target (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Barclays lifted 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. Stifel Nicolaus upped 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. Finally, Needham & Company LLC lifted their price objective on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, SiTime currently has an average rating of "Moderate Buy" and an average 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.