Prudential Financial Inc. increased its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 54.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,939 shares of the company's stock after purchasing an additional 10,580 shares during the period. Prudential Financial Inc. owned 0.13% of SiTime worth $6,423,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SITM. Emerald Advisers LLC acquired a new position in shares of SiTime in the fourth quarter worth $18,673,000. Vanguard Group Inc. increased its position in SiTime by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company's stock worth $529,535,000 after purchasing an additional 52,310 shares in the last quarter. LPL Financial LLC raised its stake in SiTime by 13.1% in the 4th quarter. LPL Financial LLC now owns 2,211 shares of the company's stock valued at $474,000 after purchasing an additional 256 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in SiTime in the 4th quarter valued at about $388,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of SiTime during the 4th quarter worth about $815,000. Hedge funds and other institutional investors own 84.31% of the company's stock.
SiTime Stock Performance
Shares of NASDAQ:SITM traded down $26.97 during trading on Thursday, reaching $131.29. 237,752 shares of the stock were exchanged, compared to its average volume of 306,697. The firm's 50-day moving average price is $178.11 and its 200 day moving average price is $195.62. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -32.42 and a beta of 1.85. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18.
Insiders Place Their Bets
In other news, insider Fariborz Assaderaghi sold 1,003 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $204.42, for a total value 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 represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the sale, the insider now owns 87,940 shares in the company, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,542 shares of company stock worth $978,713 over the last ninety days. 2.30% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on SITM shares. 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. Barclays raised their price objective on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a report on Friday, January 17th. Raymond James reiterated an "outperform" rating and issued 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 SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $232.00.
Read Our Latest Stock Report on SITM
SiTime 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.
See Also
Before you consider SiTime, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SiTime wasn't on the list.
While SiTime currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
