Norges Bank purchased a new position in shares of SiTime Co. (NASDAQ:SITM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,293 shares of the company's stock, valued at approximately $3,281,000. Norges Bank owned about 0.07% of SiTime as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after acquiring an additional 67 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after purchasing an additional 206 shares during the last quarter. AlphaQuest LLC boosted its stake in 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 purchasing an additional 423 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in SiTime in the 4th quarter valued at $130,000. Finally, SBI Securities Co. Ltd. bought a new position in SiTime during the 4th quarter worth $140,000. Institutional investors own 84.31% of the company's stock.
SiTime Stock Down 1.2 %
Shares of SITM stock traded down $1.71 during mid-day trading on Tuesday, reaching $135.53. 100,390 shares of the stock traded hands, compared to its average volume of 239,765. The stock's fifty day simple moving average is $161.47 and its two-hundred day simple moving average is $193.26. 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 $3.20 billion, a price-to-earnings ratio of -33.46 and a beta of 1.98.
Analyst Ratings Changes
SITM has been the topic of a number of recent research reports. Raymond James restated an "outperform" rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Barclays raised their target price on shares of SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a report on Friday, January 17th. Needham & Company LLC increased their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus upped 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. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, SiTime currently has an average rating of "Moderate Buy" and an average target price of $232.00.
Check Out Our Latest Analysis on SiTime
Insider Transactions at SiTime
In related news, insider Piyush B. Sevalia sold 1,038 shares of the company'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 value of $163,630.32. Following the sale, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the sale, the insider now directly owns 99,678 shares of the company's stock, valued at $20,376,176.76. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,542 shares of company stock worth $978,713. Company insiders own 2.30% of the company's stock.
SiTime Company Profile
(
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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