Amundi Purchases 6,481 Shares of SiTime Co. (NASDAQ:SITM)

Amundi grew its position in SiTime Co. (NASDAQ:SITM - Free Report) by 196.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,780 shares of the company's stock after purchasing an additional 6,481 shares during the period. Amundi's holdings in SiTime were worth $2,281,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in SITM. Blue Trust Inc. boosted its stake in SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after purchasing an additional 67 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after acquiring an additional 206 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in SiTime during the 4th quarter worth about $140,000. PNC Financial Services Group Inc. raised its holdings in SiTime by 15.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 877 shares of the company's stock worth $188,000 after purchasing an additional 118 shares during the period. Finally, Assetmark Inc. boosted its position in shares of SiTime by 21.2% during the fourth quarter. Assetmark Inc. now owns 882 shares of the company's stock worth $189,000 after purchasing an additional 154 shares in the last quarter. Institutional investors own 84.31% of the company's stock.

SiTime Stock Performance

SiTime stock traded up $1.01 during midday trading on Friday, reaching $178.26. The stock had a trading volume of 372,669 shares, compared to its average volume of 227,919. The stock has a market capitalization of $4.21 billion, a P/E ratio of -44.01 and a beta of 1.85. The firm's fifty day simple moving average is $191.57 and its 200-day simple moving average is $193.29. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18.

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Analysts Set New Price Targets

SITM has been the topic of several research analyst reports. Raymond James reaffirmed an "outperform" rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Barclays raised their price target on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research report on Friday, January 17th. Stifel Nicolaus lifted their price objective on 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 raised their target price 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 equities research 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, SiTime presently has a consensus rating of "Moderate Buy" and a consensus price target of $232.00.

Insider Activity

In other news, insider Piyush B. Sevalia sold 1,038 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $157.64, for a total value of $163,630.32. Following the sale, the insider now directly owns 92,847 shares of the company's stock, valued at approximately $14,636,401.08. This represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $174.25, for a total value of $610,049.25. Following the transaction, the insider now owns 87,940 shares of the company's stock, valued at $15,323,545. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,544 shares of company stock worth $1,200,095 over the last ninety days. Insiders own 2.30% of the company's stock.

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.