Voya Investment Management LLC cut its position in SiTime Co. (NASDAQ:SITM - Free Report) by 37.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 219,908 shares of the company's stock after selling 131,655 shares during the period. Voya Investment Management LLC owned approximately 0.94% of SiTime worth $47,177,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of SITM. Mutual of America Capital Management LLC raised its position in SiTime by 1.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company's stock valued at $615,000 after acquiring an additional 48 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of SiTime by 0.5% during the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company's stock valued at $2,307,000 after purchasing an additional 57 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after purchasing an additional 67 shares during the period. Summit Investment Advisors Inc. boosted its holdings in SiTime by 4.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company's stock worth $417,000 after buying an additional 83 shares in the last quarter. Finally, Arizona State Retirement System grew its position in SiTime by 1.9% during the fourth quarter. Arizona State Retirement System now owns 5,368 shares of the company's stock valued at $1,152,000 after buying an additional 99 shares during the period. 84.31% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at SiTime
In related news, insider Piyush B. Sevalia sold 1,038 shares of the 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 sale, the insider now 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 Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $205,033.26. Following the transaction, the insider now owns 99,678 shares in the company, valued at approximately $20,376,176.76. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,542 shares of company stock valued at $978,713 over the last ninety days. Insiders own 2.30% of the company's stock.
Analyst Ratings Changes
A number of brokerages have weighed in on SITM. 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 research report on Thursday, February 6th. Stifel Nicolaus reduced their price target on SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Barclays dropped their price objective on SiTime from $180.00 to $110.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James reaffirmed an "outperform" rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $204.00.
View Our Latest Stock Report on SiTime
SiTime Price Performance
SITM stock traded down $4.44 during trading on Monday, hitting $148.60. The stock had a trading volume of 216,953 shares, compared to its average volume of 241,307. The company's 50-day moving average price is $153.98 and its two-hundred day moving average price is $190.45. SiTime Co. has a twelve month low of $86.73 and a twelve month high of $268.18. The stock has a market capitalization of $3.53 billion, a P/E ratio of -36.69 and a beta of 1.98.
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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