Wasatch Advisors LP Trims Stock Position in SiTime Co. (NASDAQ:SITM)

Wasatch Advisors LP trimmed its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 84.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,524 shares of the company's stock after selling 480,253 shares during the period. Wasatch Advisors LP owned about 0.37% of SiTime worth $18,562,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SITM. Blue Trust Inc. grew 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 buying an additional 67 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of SiTime in the fourth quarter valued at about $58,000. Smartleaf Asset Management LLC boosted its holdings 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 grew its position in shares of SiTime by 8,460.0% during the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after buying an additional 423 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of SiTime during the fourth quarter worth about $130,000. Institutional investors and hedge funds own 84.31% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Needham & Company LLC lifted their price target on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Stifel Nicolaus cut their target price on SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday. Barclays lifted their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a report on Friday, January 17th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $250.00 price objective (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 issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $214.00.

SiTime Trading Down 0.2 %

SITM stock traded down $0.31 during midday trading on Friday, hitting $129.47. The company had a trading volume of 194,781 shares, compared to its average volume of 241,410. The stock's 50 day moving average price is $158.11 and its 200 day moving average price is $192.04. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -31.97 and a beta of 1.98. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18.

Insider Activity

In other SiTime news, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the transaction, the insider now owns 99,678 shares of the company's stock, valued at $20,376,176.76. This represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lionel Bonnot sold 3,501 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the sale, 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. Over the last ninety days, insiders sold 5,542 shares of company stock worth $978,713. Insiders own 2.30% of the company's stock.

SiTime 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.