Toronado Partners LLC reduced its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 20.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,625 shares of the company's stock after selling 18,885 shares during the period. SiTime accounts for about 10.3% of Toronado Partners LLC's investment portfolio, making the stock its 4th largest holding. Toronado Partners LLC owned about 0.32% of SiTime worth $16,224,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the business. Blue Trust Inc. grew 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 last quarter. Aster Capital Management DIFC Ltd purchased a new stake in SiTime during the 4th quarter valued at about $58,000. Smartleaf Asset Management LLC increased its stake in SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after purchasing an additional 206 shares in the last quarter. AlphaQuest LLC increased its stake in SiTime by 8,460.0% during the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock valued at $92,000 after purchasing an additional 423 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in SiTime in the fourth quarter worth about $130,000. Institutional investors own 84.31% of the company's stock.
Analysts Set New Price Targets
A number of analysts have commented on SITM shares. Stifel Nicolaus lifted their target price on SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Barclays boosted their target price on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research report on Friday, January 17th. Needham & Company LLC lifted their price target 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. Finally, Raymond James reissued an "outperform" rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a 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 company. According to MarketBeat.com, SiTime has a consensus rating of "Moderate Buy" and a consensus target price of $232.00.
View Our Latest Analysis on SITM
Insider Buying and Selling at SiTime
In related news, insider Piyush B. Sevalia sold 1,038 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were 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 directly owns 92,847 shares of the company's stock, valued at approximately $14,636,401.08. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 5,542 shares of company stock worth $978,713 in the last quarter. 2.30% of the stock is owned by corporate insiders.
SiTime Price Performance
Shares of SITM stock traded up $1.00 during trading hours on Tuesday, hitting $138.24. The stock had a trading volume of 184,444 shares, compared to its average volume of 240,182. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of -34.13 and a beta of 1.98. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The stock's 50-day moving average price is $161.47 and its two-hundred day moving average price is $193.26.
About SiTime
(
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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