Peregrine Investment Management Inc. Makes New $7.78 Million Investment in SiTime Co. (NASDAQ:SITM)

Peregrine Investment Management Inc. acquired a new stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 36,260 shares of the company's stock, valued at approximately $7,779,000. SiTime makes up approximately 4.5% of Peregrine Investment Management Inc.'s portfolio, making the stock its 11th largest position. Peregrine Investment Management Inc. owned 0.16% of SiTime as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Signaturefd LLC grew its stake in SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company's stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Blue Trust Inc. grew its stake in SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after acquiring an additional 67 shares in the last quarter. Van ECK Associates Corp purchased a new position in SiTime during the third quarter valued at approximately $123,000. Sanctuary Advisors LLC purchased a new position in SiTime during the third quarter valued at approximately $166,000. Finally, GAMMA Investing LLC grew its stake in SiTime by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 944 shares of the company's stock valued at $203,000 after acquiring an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company's stock.

Insider Transactions at SiTime

In related news, CEO Rajesh Vashist sold 12,000 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $259.25, for a total transaction 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 $6,424,474.25. This represents a 32.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Fariborz Assaderaghi sold 363 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $216.25, for a total transaction of $78,498.75. Following the sale, the insider now owns 104,322 shares of the company's stock, valued at $22,559,632.50. This represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,934 shares of company stock worth $4,996,438. 2.30% of the stock is currently owned by insiders.

SiTime Trading Down 3.7 %

Shares of SITM traded down $6.87 during mid-day trading on Wednesday, reaching $176.50. The company's stock had a trading volume of 401,945 shares, compared to its average volume of 265,488. The stock has a market cap of $4.12 billion, a PE ratio of -43.58 and a beta of 1.80. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18. The company's fifty day moving average price is $220.70 and its two-hundred day moving average price is $188.43.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SITM shares. Roth Mkm boosted their price objective on shares of SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Stifel Nicolaus boosted their price target on shares of SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Needham & Company LLC boosted their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Barclays boosted their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Finally, Raymond James reissued an "outperform" rating and issued a $250.00 price target (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, SiTime currently has an average rating of "Moderate Buy" and a consensus target price of $232.00.

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.