Neuberger Berman Group LLC Acquires Shares of 29,343 SiTime Co. (NASDAQ:SITM)

Neuberger Berman Group LLC acquired a new stake in SiTime Co. (NASDAQ:SITM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 29,343 shares of the company's stock, valued at approximately $6,295,000. Neuberger Berman Group LLC owned about 0.13% of SiTime at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of SiTime by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company's stock valued at $529,535,000 after purchasing an additional 52,310 shares during the period. Invesco Ltd. lifted its position in SiTime by 11.0% in the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company's stock valued at $210,921,000 after buying an additional 97,062 shares during the last quarter. State Street Corp lifted its position in SiTime by 3.1% in the third quarter. State Street Corp now owns 922,974 shares of the company's stock valued at $158,299,000 after buying an additional 27,692 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after acquiring an additional 59,931 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of SiTime by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 442,897 shares of the company's stock worth $95,037,000 after purchasing an additional 1,975 shares during the period. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, insider Piyush B. Sevalia sold 1,038 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $157.64, for a total value of $163,630.32. Following the completion of the sale, the insider now directly owns 92,847 shares of the company's stock, valued at approximately $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total transaction 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. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,542 shares of company stock valued at $978,713. Insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SITM shares. Stifel Nicolaus increased their target price on SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. 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 note on Friday, January 17th. Raymond James reaffirmed an "outperform" rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Finally, 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. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.00.

SiTime Price Performance

Shares of SiTime stock traded up $1.00 during trading hours on Tuesday, hitting $138.24. The company had a trading volume of 184,444 shares, compared to its average volume of 240,182. The company's 50-day moving average is $161.47 and its two-hundred day moving average is $193.26. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18. The company has a market cap of $3.26 billion, a P/E ratio of -34.13 and a beta of 1.98.

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.