3,800 Shares in SiTime Co. (NASDAQ:SITM) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in SiTime Co. (NASDAQ:SITM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,800 shares of the company's stock, valued at approximately $815,000.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after buying an additional 67 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after acquiring an additional 206 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of SiTime by 8,460.0% in the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock valued at $92,000 after acquiring an additional 423 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of SiTime during the 4th quarter valued at about $130,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of SiTime during the fourth quarter worth about $140,000. 84.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SITM. Barclays lifted their target price on shares of SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Raymond James reaffirmed an "outperform" rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Stifel Nicolaus increased their target price on SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Needham & Company LLC lifted their price target on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $232.00.

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SiTime Stock Performance

Shares of SITM stock traded up $3.70 on Wednesday, hitting $158.26. 223,443 shares of the company's stock traded hands, compared to its average volume of 233,859. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -39.08 and a beta of 1.85. The company's fifty day simple moving average is $180.06 and its 200 day simple moving average is $195.88. SiTime Co. has a one year low of $72.39 and a one year high of $268.18.

Insider Transactions at SiTime

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the transaction, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $205,033.26. Following the sale, the insider now owns 99,678 shares of the company's stock, valued at approximately $20,376,176.76. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,544 shares of company stock worth $1,200,095. Company insiders own 2.30% of the company's stock.

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.