Wells Fargo & Company MN Grows Stock Position in SiTime Co. (NASDAQ:SITM)

Wells Fargo & Company MN grew its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 25.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,788 shares of the company's stock after purchasing an additional 3,004 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of SiTime worth $3,172,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Blue Trust Inc. boosted its position 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. Smartleaf Asset Management LLC boosted its holdings in shares of SiTime by 278.4% in 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 during the last quarter. AlphaQuest LLC boosted its holdings in shares of SiTime by 8,460.0% in the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock valued at $92,000 after purchasing an additional 423 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of SiTime during the 4th quarter valued at $130,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of SiTime during the 4th quarter worth $140,000. Institutional investors and hedge funds own 84.31% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SITM shares. Stifel Nicolaus lowered their price target on SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC increased their target price 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. Raymond James reaffirmed an "outperform" rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Finally, Barclays dropped their price objective on shares of SiTime from $180.00 to $110.00 and set an "underweight" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, SiTime currently has a consensus rating of "Moderate Buy" and an average target price of $204.00.

SiTime Stock Up 3.0 %

Shares of SITM stock opened at $130.41 on Wednesday. The company has a market cap of $3.08 billion, a P/E ratio of -32.20 and a beta of 1.98. The business has a 50 day moving average of $156.50 and a two-hundred day moving average of $191.35. SiTime Co. has a 52 week low of $73.70 and a 52 week high of $268.18.

Insider Transactions at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction 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 $20,376,176.76. The trade was a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction 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 directly owns 92,847 shares of the company's stock, valued at approximately $14,636,401.08. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,542 shares of company stock worth $978,713. 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.

Want to see what other hedge funds are holding SITM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SiTime Co. (NASDAQ:SITM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.