Hood River Capital Management LLC Has $90.52 Million Holdings in SiTime Co. (NASDAQ:SITM)

Hood River Capital Management LLC boosted its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 27.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 421,960 shares of the company's stock after purchasing an additional 89,632 shares during the period. SiTime comprises approximately 1.3% of Hood River Capital Management LLC's holdings, making the stock its 22nd largest position. Hood River Capital Management LLC owned approximately 1.81% of SiTime worth $90,523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of SiTime by 82.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,047 shares of the company's stock valued at $13,741,000 after purchasing an additional 28,856 shares in the last quarter. Hsbc Holdings PLC grew its stake in SiTime by 84.6% in the fourth quarter. Hsbc Holdings PLC now owns 4,816 shares of the company's stock valued at $1,043,000 after acquiring an additional 2,207 shares during the period. MetLife Investment Management LLC lifted its stake in SiTime by 4.6% in the 4th quarter. MetLife Investment Management LLC now owns 11,099 shares of the company's stock valued at $2,381,000 after acquiring an additional 490 shares in the last quarter. Capital World Investors bought a new stake in shares of SiTime during the 4th quarter worth approximately $17,654,000. Finally, First Trust Advisors LP boosted its stake in shares of SiTime by 56.8% during the 4th quarter. First Trust Advisors LP now owns 19,950 shares of the company's stock worth $4,280,000 after acquiring an additional 7,225 shares during the period. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

SiTime Price Performance

Shares of SITM stock opened at $130.41 on Wednesday. The company's fifty day moving average price is $156.50 and its 200-day moving average price is $191.35. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of -32.20 and a beta of 1.98. SiTime Co. has a one year low of $73.70 and a one year high of $268.18.

Analysts Set New Price Targets

Several research firms recently issued reports on SITM. Raymond James reiterated an "outperform" rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Barclays decreased their price objective on SiTime from $180.00 to $110.00 and set an "underweight" rating for the company in a report on Tuesday. Needham & Company LLC raised their price target on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus reduced their price target on shares of SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $204.00.

Insider Buying and Selling

In other SiTime news, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $204.42, for a total value of $205,033.26. Following the completion of the sale, the insider now directly owns 99,678 shares in the company, valued at approximately $20,376,176.76. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,542 shares of company stock worth $978,713 over the last three months. 2.30% of the stock is owned by insiders.

SiTime Company 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.

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