Legato Capital Management LLC lifted its position in SiTime Co. (NASDAQ:SITM - Free Report) by 111.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,450 shares of the company's stock after purchasing an additional 2,870 shares during the period. Legato Capital Management LLC's holdings in SiTime were worth $1,169,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its stake in SiTime by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company's stock worth $2,307,000 after acquiring an additional 57 shares during the period. Baader Bank Aktiengesellschaft purchased a new stake in SiTime in the fourth quarter worth $538,000. KBC Group NV lifted its stake in SiTime by 3.0% in the fourth quarter. KBC Group NV now owns 6,402 shares of the company's stock worth $1,373,000 after acquiring an additional 184 shares during the period. Blue Trust Inc. lifted its stake in SiTime by 118.0% in the fourth quarter. Blue Trust Inc. now owns 327 shares of the company's stock worth $70,000 after acquiring an additional 177 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in SiTime by 601.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,318 shares of the company's stock worth $283,000 after acquiring an additional 1,130 shares during the period. Institutional investors own 84.31% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on SITM. Barclays raised their price target on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Stifel Nicolaus raised their price target on SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Roth Mkm raised their price objective on SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Needham & Company LLC raised their price objective on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, Raymond James reissued an "outperform" rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $232.00.
Check Out Our Latest Analysis on SITM
Insider Buying and Selling
In related news, CEO Rajesh Vashist sold 12,000 shares of SiTime stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $259.25, for a total value of $3,111,000.00. Following the completion of the sale, the chief executive officer now directly owns 24,781 shares in the company, valued at approximately $6,424,474.25. This trade represents a 32.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of SiTime 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 owns 99,678 shares of the company's stock, valued at $20,376,176.76. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,934 shares of company stock worth $5,206,598. 2.30% of the stock is owned by corporate insiders.
SiTime Stock Performance
Shares of SITM traded up $7.82 during trading hours on Friday, hitting $177.41. The company had a trading volume of 248,651 shares, compared to its average volume of 248,673. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18. The firm has a fifty day moving average price of $222.19 and a 200-day moving average price of $187.75. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of -43.80 and a beta of 1.80.
SiTime Company Profile
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Free Report)
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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