William Blair Investment Management LLC Sells 23,710 Shares of SiTime Co. (NASDAQ:SITM)

William Blair Investment Management LLC reduced its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 13.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 148,605 shares of the company's stock after selling 23,710 shares during the period. William Blair Investment Management LLC owned about 0.64% of SiTime worth $31,880,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after acquiring an additional 67 shares during the period. Smartleaf Asset Management LLC grew its position in shares of 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 acquiring an additional 206 shares during the period. 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 valued at $92,000 after acquiring an additional 423 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of SiTime during the 4th quarter valued at approximately $140,000. Finally, PNC Financial Services Group Inc. grew its position in shares of SiTime by 15.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 877 shares of the company's stock valued at $188,000 after acquiring an additional 118 shares during the period. 84.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Barclays increased their target price on shares of SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Raymond James reiterated an "outperform" rating and issued a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. 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 note on Thursday, February 6th. Finally, Stifel Nicolaus increased their target price on shares of SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $232.00.

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Insider Activity

In other SiTime news, insider Fariborz Assaderaghi sold 1,002 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total value of $221,381.88. Following the sale, the insider now owns 100,681 shares of the company's stock, valued at $22,244,460.14. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lionel Bonnot sold 3,501 shares of the firm'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 directly owns 87,940 shares in the company, valued at approximately $15,323,545. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,544 shares of company stock worth $1,200,095. 2.30% of the stock is currently owned by corporate insiders.

SiTime Trading Up 0.6 %

Shares of SiTime stock traded up $1.01 on Friday, hitting $178.26. 376,152 shares of the company traded hands, compared to its average volume of 227,403. The firm's 50-day simple moving average is $190.51 and its 200 day simple moving average is $193.52. The company has a market cap of $4.21 billion, a P/E ratio of -44.01 and a beta of 1.85. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18.

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.