Mitsubishi UFJ Asset Management Co. Ltd. Boosts Position in SiTime Co. (NASDAQ:SITM)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,100 shares of the company's stock after acquiring an additional 3,017 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of SiTime worth $8,694,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SITM. Vanguard Group Inc. raised its holdings in SiTime by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company's stock worth $529,535,000 after purchasing an additional 52,310 shares during the period. State Street Corp raised its stake in shares of SiTime by 3.1% in the third quarter. State Street Corp now owns 922,974 shares of the company's stock worth $158,299,000 after buying an additional 27,692 shares during the period. Principal Financial Group Inc. lifted its position in shares of SiTime by 15.4% during the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after buying an additional 59,931 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of SiTime by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 440,922 shares of the company's stock valued at $75,637,000 after acquiring an additional 15,759 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in SiTime by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,937 shares of the company's stock worth $36,886,000 after acquiring an additional 6,117 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company's stock.

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SiTime Trading Up 2.4 %

Shares of NASDAQ:SITM traded up $3.70 during mid-day trading on Wednesday, reaching $158.26. The stock had a trading volume of 223,443 shares, compared to its average volume of 233,859. The business's 50 day moving average price is $180.06 and its 200 day moving average price is $195.88. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $268.18. The company has a market cap of $3.73 billion, a P/E ratio of -39.08 and a beta of 1.85.

Analysts Set New Price Targets

SITM has been the topic of several recent analyst reports. Barclays raised their price objective 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. Stifel Nicolaus boosted their price objective on SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Needham & Company LLC increased their target price on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Raymond James reissued 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. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.00.

Insider Activity

In other news, insider Fariborz Assaderaghi sold 1,002 shares of SiTime stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total value of $221,381.88. Following the completion of the transaction, the insider now owns 100,681 shares in the company, valued at approximately $22,244,460.14. The trade was a 0.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction 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 sale, the insider now owns 92,847 shares in the company, valued at $14,636,401.08. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,544 shares of company stock worth $1,200,095. 2.30% of the stock is currently 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.