Vanguard Group Inc. Grows Position in SiTime Co. (NASDAQ:SITM)

Vanguard Group Inc. raised its position in SiTime Co. (NASDAQ:SITM - Free Report) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,468,348 shares of the company's stock after acquiring an additional 52,310 shares during the quarter. Vanguard Group Inc. owned approximately 10.57% of SiTime worth $529,535,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its holdings in SiTime by 3.1% in the 3rd quarter. State Street Corp now owns 922,974 shares of the company's stock worth $158,299,000 after buying an additional 27,692 shares during the period. Principal Financial Group Inc. boosted its stake in shares of SiTime by 15.4% during the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after purchasing an additional 59,931 shares in the last quarter. Geode Capital Management LLC raised its position in shares of SiTime by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 440,922 shares of the company's stock worth $75,637,000 after acquiring an additional 15,759 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in SiTime by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 171,937 shares of the company's stock valued at $36,886,000 after buying an additional 6,117 shares during the period. Finally, Needham Investment Management LLC boosted its stake in SiTime by 2.1% during the third quarter. Needham Investment Management LLC now owns 48,000 shares of the company's stock worth $8,232,000 after acquiring an additional 1,000 shares in the last quarter. 84.31% of the stock is owned by institutional investors.

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SiTime Trading Down 19.5 %

SiTime stock traded down $30.86 during midday trading on Thursday, hitting $127.40. The stock had a trading volume of 495,460 shares, compared to its average volume of 234,897. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18. The company has a market capitalization of $3.01 billion, a PE ratio of -31.46 and a beta of 1.85. The firm's fifty day moving average is $178.11 and its two-hundred day moving average is $195.62.

Insider Transactions at SiTime

In related news, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total transaction of $205,033.26. Following the sale, the insider now owns 99,678 shares of the company's stock, valued at approximately $20,376,176.76. This trade represents a 1.00 % decrease in their position. The sale 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 company'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 value of $163,630.32. Following the completion of the transaction, the insider now owns 92,847 shares of the company's stock, valued at $14,636,401.08. The trade was a 1.11 % 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 valued at $978,713 over the last three months. Corporate insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SITM. Barclays increased their target price on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Needham & Company LLC upped their price objective on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Raymond James reissued an "outperform" rating and issued a $250.00 target price (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Finally, Stifel Nicolaus upped their price target 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. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $232.00.

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.