Russell Investments Group Ltd. lessened its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 30.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,613 shares of the company's stock after selling 6,868 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of SiTime worth $3,349,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. increased 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 period. Smartleaf Asset Management LLC boosted its holdings in SiTime by 278.4% in 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 last quarter. AlphaQuest LLC grew its position in SiTime by 8,460.0% during the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after purchasing an additional 423 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of SiTime during the 4th quarter valued at about $130,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of SiTime in the 4th quarter valued at about $140,000. 84.31% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, insider Piyush B. Sevalia sold 1,038 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the sale, the insider now directly owns 92,847 shares in the company, valued at approximately $14,636,401.08. The trade was a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $205,033.26. Following the completion of the transaction, the insider now owns 99,678 shares in the company, valued at $20,376,176.76. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,542 shares of company stock valued at $978,713. 2.30% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several analysts recently commented on SITM shares. Barclays dropped their target price on SiTime from $180.00 to $110.00 and set an "underweight" rating on the stock in a report on Tuesday. Needham & Company LLC raised their price objective 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. 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, 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 report on Thursday, April 17th. 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $204.00.
Read Our Latest Report on SITM
SiTime Stock Up 3.0 %
Shares of SiTime stock traded up $3.84 on Tuesday, reaching $130.41. The company's stock had a trading volume of 160,261 shares, compared to its average volume of 241,126. SiTime Co. has a 52-week low of $73.70 and a 52-week high of $268.18. The company has a market capitalization of $3.08 billion, a P/E ratio of -32.20 and a beta of 1.98. The stock has a 50-day moving average price of $156.50 and a 200-day moving average price of $191.35.
SiTime Company Profile
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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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