Geode Capital Management LLC raised its position in SiTime Co. (NASDAQ:SITM - Free Report) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442,897 shares of the company's stock after buying an additional 1,975 shares during the quarter. Geode Capital Management LLC owned 1.90% of SiTime worth $95,037,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after acquiring an additional 67 shares during the period. Smartleaf Asset Management LLC increased its stake 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 acquiring an additional 206 shares during the last quarter. AlphaQuest LLC increased its stake in SiTime by 8,460.0% in the fourth quarter. AlphaQuest LLC now owns 428 shares of the company's stock valued at $92,000 after acquiring an additional 423 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of SiTime in the 4th quarter valued at $130,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of SiTime in the 4th quarter valued at $140,000. Institutional investors and hedge funds own 84.31% of the company's stock.
Insider Transactions at SiTime
In related news, insider Lionel Bonnot sold 3,501 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the sale, the insider now owns 87,940 shares in the company, valued at $15,323,545. This represents a 3.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of the business's 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 transaction, the insider now directly owns 99,678 shares in the company, valued at approximately $20,376,176.76. This trade represents a 1.00 % 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 three months. 2.30% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on SITM. Barclays lifted their target price on SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Needham & Company LLC increased their price target on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Raymond James restated an "outperform" rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Finally, Stifel Nicolaus increased their target price on SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, SiTime has a consensus rating of "Moderate Buy" and an average target price of $232.00.
Check Out Our Latest Stock Analysis on SITM
SiTime Stock Performance
Shares of SITM traded down $1.71 during mid-day trading on Tuesday, reaching $135.53. 102,326 shares of the company were exchanged, compared to its average volume of 239,786. The business has a 50 day simple moving average of $161.47 and a two-hundred day simple moving average of $193.26. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18. The stock has a market capitalization of $3.20 billion, a PE ratio of -33.46 and a beta of 1.98.
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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