Capital World Investors Takes $17.65 Million Position in SiTime Co. (NASDAQ:SITM)

Capital World Investors acquired a new position in shares of SiTime Co. (NASDAQ:SITM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 82,290 shares of the company's stock, valued at approximately $17,654,000. Capital World Investors owned about 0.35% of SiTime at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after purchasing an additional 67 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of SiTime in the 4th quarter valued at about $58,000. Smartleaf Asset Management LLC increased its stake 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 acquiring an additional 206 shares during the last quarter. AlphaQuest LLC increased its stake 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 acquiring an additional 423 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of SiTime in the 4th quarter valued at about $130,000. 84.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 87,940 shares of the company's stock, valued at $15,323,545. This represents a 3.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the company's 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 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,542 shares of company stock valued at $978,713. 2.30% of the stock is owned by corporate insiders.

SiTime Stock Performance

NASDAQ SITM traded up $4.09 during trading hours on Friday, reaching $153.04. 178,872 shares of the company's stock were exchanged, compared to its average volume of 241,405. The company's 50-day moving average is $154.53 and its two-hundred day moving average is $190.71. SiTime Co. has a one year low of $86.73 and a one year high of $268.18. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -37.79 and a beta of 1.98.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Raymond James reaffirmed an "outperform" rating and issued a $250.00 price target (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. 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 note on Thursday, April 17th. Barclays lowered their price target on SiTime from $180.00 to $110.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC increased their target price on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.00.

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.