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Principal Financial Group Inc. Sells 61,442 Shares of SiTime Co. (NASDAQ:SITM)

SiTime logo with Computer and Technology background

Principal Financial Group Inc. decreased its position in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 13.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 387,488 shares of the company's stock after selling 61,442 shares during the period. Principal Financial Group Inc. owned about 1.66% of SiTime worth $83,127,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at SiTime

In other news, insider Fariborz Assaderaghi sold 1,003 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now owns 99,678 shares of the company's stock, valued at approximately $20,376,176.76. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raman Chitkara sold 500 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $265.00, for a total transaction of $132,500.00. Following the completion of the sale, the director now directly owns 20,719 shares in the company, valued at approximately $5,490,535. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,934 shares of company stock worth $4,996,438 over the last 90 days. Insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on SITM. Barclays increased their price objective on SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Needham & Company LLC lifted their price objective on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Stifel Nicolaus boosted their price objective on SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Roth Mkm raised their target price 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. Finally, Raymond James reissued an "outperform" rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a research note 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $232.00.

Get Our Latest Stock Report on SiTime

SiTime Price Performance

SITM traded down $0.18 during trading on Friday, hitting $179.93. 268,148 shares of the stock traded hands, compared to its average volume of 322,929. 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 $4.25 billion, a price-to-earnings ratio of -44.43 and a beta of 1.80. The business has a 50 day moving average price of $216.24 and a 200 day moving average price of $188.77.

About SiTime

(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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Institutional Ownership by Quarter for SiTime (NASDAQ:SITM)

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