Renaissance Technologies LLC Takes Position in SiTime Co. (NASDAQ:SITM)

Renaissance Technologies LLC acquired a new position in SiTime Co. (NASDAQ:SITM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,400 shares of the company's stock, valued at approximately $2,446,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SITM. Barclays PLC raised its holdings in shares of SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company's stock valued at $6,515,000 after buying an additional 16,964 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after purchasing an additional 206 shares during the period. Baader Bank Aktiengesellschaft bought a new position in SiTime in the 4th quarter worth approximately $538,000. Proficio Capital Partners LLC bought a new position in shares of SiTime during the 4th quarter valued at approximately $4,418,000. Finally, Sanctuary Advisors LLC purchased a new stake in SiTime during the 3rd quarter valued at $166,000. Institutional investors own 84.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SITM shares. Needham & Company LLC boosted their price target on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Raymond James reaffirmed an "outperform" rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Barclays lowered their price objective on shares of SiTime from $180.00 to $110.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus dropped their price target on shares of SiTime from $270.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.00.

Insider Activity at SiTime

In other news, 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 value of $205,033.26. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the transaction, the insider now owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,542 shares of company stock worth $978,713 in the last ninety days. 2.30% of the stock is owned by insiders.

SiTime Stock Performance

Shares of SITM stock traded down $4.44 during mid-day trading on Monday, reaching $148.60. 216,953 shares of the company were exchanged, compared to its average volume of 241,307. The company has a market capitalization of $3.53 billion, a P/E ratio of -36.69 and a beta of 1.98. SiTime Co. has a fifty-two week low of $86.73 and a fifty-two week high of $268.18. The business's 50 day simple moving average is $154.53 and its 200 day simple moving average is $190.71.

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.