Proficio Capital Partners LLC Invests $4.42 Million in SiTime Co. (NASDAQ:SITM)

Proficio Capital Partners LLC bought a new position in shares of SiTime Co. (NASDAQ:SITM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,595 shares of the company's stock, valued at approximately $4,418,000. Proficio Capital Partners LLC owned 0.09% of SiTime as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after buying an additional 67 shares during the period. Van ECK Associates Corp acquired a new position in shares of SiTime in the 3rd quarter valued at $123,000. Sanctuary Advisors LLC acquired a new position in shares of SiTime in the 3rd quarter valued at $166,000. GAMMA Investing LLC grew its holdings in shares of SiTime by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 944 shares of the company's stock valued at $203,000 after buying an additional 201 shares during the period. Finally, Virtu Financial LLC bought a new stake in SiTime in the 3rd quarter valued at $204,000. Institutional investors and hedge funds own 84.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Raymond James reaffirmed an "outperform" rating and issued a $250.00 price objective (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Barclays boosted 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. Finally, Needham & Company LLC boosted their price objective 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 investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.00.

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Insider Transactions at SiTime

In related news, insider Fariborz Assaderaghi sold 1,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $249.42, for a total value of $249,420.00. Following the completion of the transaction, the insider now owns 101,683 shares of the company's stock, valued at $25,361,773.86. This represents a 0.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajesh Vashist sold 12,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 24,781 shares of the company's stock, valued at approximately $6,424,474.25. The trade was a 32.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,108 shares of company stock valued at $5,474,335. Company insiders own 2.30% of the company's stock.

SiTime Trading Down 1.8 %

Shares of NASDAQ:SITM traded down $3.24 on Friday, reaching $174.84. 403,168 shares of the company's stock were exchanged, compared to its average volume of 220,651. The company has a fifty day moving average of $202.20 and a 200-day moving average of $191.74. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of -43.17 and a beta of 1.85.

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.