Sei Investments Co. Sells 3,238 Shares of SiTime Co. (NASDAQ:SITM)

Sei Investments Co. cut its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 16.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,668 shares of the company's stock after selling 3,238 shares during the quarter. Sei Investments Co. owned 0.07% of SiTime worth $3,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SITM. Virtu Financial LLC increased its stake in shares of SiTime by 145.3% in the fourth quarter. Virtu Financial LLC now owns 2,921 shares of the company's stock worth $626,000 after buying an additional 1,730 shares during the period. Magnetar Financial LLC bought a new stake in SiTime in the 4th quarter worth $203,000. Teacher Retirement System of Texas purchased a new position in shares of SiTime in the fourth quarter valued at about $2,083,000. Harvest Fund Management Co. Ltd bought a new position in shares of SiTime during the fourth quarter valued at about $130,000. Finally, Xponance Inc. boosted its holdings in shares of SiTime by 10.3% during the fourth quarter. Xponance Inc. now owns 1,324 shares of the company's stock worth $284,000 after purchasing an additional 124 shares during the period. 84.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SITM has been the topic of a number of research analyst reports. Barclays boosted their price target on SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a report on Friday, January 17th. Raymond James restated an "outperform" rating and set a $250.00 target price (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Stifel Nicolaus lifted their price target on shares of SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Finally, Needham & Company LLC upped their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $232.00.

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Insiders Place Their Bets

In related news, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $174.25, for a total transaction of $610,049.25. Following the completion of the transaction, the insider now directly owns 87,940 shares of the company's stock, valued at $15,323,545. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Piyush B. Sevalia sold 1,038 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the sale, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,542 shares of company stock worth $978,713. 2.30% of the stock is owned by corporate insiders.

SiTime Stock Performance

Shares of SITM traded down $6.06 on Tuesday, reaching $116.79. The stock had a trading volume of 358,567 shares, compared to its average volume of 238,090. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -28.84 and a beta of 1.98. The company has a 50-day simple moving average of $168.54 and a 200-day simple moving average of $194.31.

About SiTime

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.