SiTime Co. (NASDAQ:SITM) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC trimmed its stake in SiTime Co. (NASDAQ:SITM - Free Report) by 16.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,591 shares of the company's stock after selling 18,045 shares during the period. Granite Investment Partners LLC owned 0.40% of SiTime worth $20,078,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC raised its stake in SiTime by 16.4% during the 3rd quarter. HighTower Advisors LLC now owns 12,388 shares of the company's stock worth $2,137,000 after acquiring an additional 1,748 shares during the period. State Street Corp raised its position in shares of SiTime by 3.1% during the 3rd quarter. State Street Corp now owns 922,974 shares of the company's stock valued at $158,299,000 after purchasing an additional 27,692 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of SiTime during the 3rd quarter valued at $588,000. Public Employees Retirement System of Ohio boosted its holdings in SiTime by 6.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 17,960 shares of the company's stock worth $3,080,000 after buying an additional 1,039 shares during the period. Finally, Barclays PLC increased its stake in SiTime by 80.7% in the 3rd quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after buying an additional 16,964 shares in the last quarter. Institutional investors own 84.31% of the company's stock.

Analysts Set New Price Targets

SITM has been the subject of a number of recent analyst reports. Barclays upped their price objective on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Needham & Company LLC upped their target price on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Raymond James reiterated 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. Finally, Stifel Nicolaus increased their price objective on shares of SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $232.00.

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SiTime Price Performance

Shares of NASDAQ SITM traded up $1.00 during mid-day trading on Tuesday, hitting $138.24. 184,444 shares of the company's stock traded hands, compared to its average volume of 240,185. The company has a market capitalization of $3.26 billion, a P/E ratio of -34.13 and a beta of 1.98. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $268.18. The company's 50-day moving average is $160.71 and its two-hundred day moving average is $192.88.

Insider Buying and Selling at SiTime

In related news, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $204.42, for a total value of $205,033.26. Following the sale, the insider now directly owns 99,678 shares of the company's stock, valued at $20,376,176.76. This represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Piyush B. Sevalia sold 1,038 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total value of $163,630.32. Following the transaction, the insider now owns 92,847 shares of the company's stock, valued at $14,636,401.08. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,542 shares of company stock worth $978,713 over the last ninety days. Company insiders own 2.30% of the company's stock.

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.