Invesco Ltd. Acquires 97,062 Shares of SiTime Co. (NASDAQ:SITM)

Invesco Ltd. lifted its position in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 983,175 shares of the company's stock after purchasing an additional 97,062 shares during the period. Invesco Ltd. owned about 4.21% of SiTime worth $210,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Barclays PLC raised its position in SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after purchasing an additional 16,964 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after purchasing an additional 206 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of SiTime during the fourth quarter worth $538,000. Proficio Capital Partners LLC bought a new position in SiTime during the fourth quarter worth $4,418,000. Finally, Sanctuary Advisors LLC acquired a new position in SiTime in the third quarter valued at $166,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Trading Down 6.1 %

Shares of NASDAQ SITM traded down $8.46 during midday trading on Wednesday, hitting $129.78. The company's stock had a trading volume of 290,051 shares, compared to its average volume of 240,383. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -32.04 and a beta of 1.98. The stock has a fifty day moving average price of $160.71 and a 200 day moving average price of $192.88.

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Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays upped 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 lifted their price target on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Raymond James restated an "outperform" rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Finally, Stifel Nicolaus lifted their price objective on shares of SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, SiTime currently has an average rating of "Moderate Buy" and an average price target of $232.00.

Insider Activity

In other SiTime news, 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 value of $610,049.25. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of the firm's stock in a transaction that occurred 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 owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,542 shares of company stock worth $978,713. 2.30% of the stock is owned by company insiders.

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.