Bamco Inc. NY Reduces Stock Position in SiTime Co. (NASDAQ:SITM)

Bamco Inc. NY trimmed its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 38.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,261 shares of the company's stock after selling 51,255 shares during the period. Bamco Inc. NY owned 0.35% of SiTime worth $17,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in SITM. Blue Trust Inc. lifted its stake in SiTime by 44.7% during the fourth 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 acquired a new position in shares of SiTime in the 4th quarter valued at $58,000. Smartleaf Asset Management LLC grew its position 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 buying an additional 206 shares during the last quarter. AlphaQuest LLC raised its stake in SiTime by 8,460.0% during the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after acquiring an additional 423 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in SiTime in the fourth quarter valued at $130,000. 84.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SITM. Raymond James reiterated an "outperform" rating and set a $250.00 target price (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Barclays reduced their price objective on SiTime from $180.00 to $110.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus lowered their target price on shares of SiTime from $270.00 to $180.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Needham & Company LLC upped their price target on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.00.

SiTime Trading Up 4.7 %

NASDAQ:SITM opened at $163.82 on Monday. The stock's 50 day simple moving average is $152.47 and its 200-day simple moving average is $189.81. SiTime Co. has a 12-month low of $92.36 and a 12-month high of $268.18. The firm has a market cap of $3.89 billion, a P/E ratio of -40.45 and a beta of 2.24.

Insider Buying and Selling at SiTime

In other news, insider Piyush B. Sevalia sold 1,038 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the transaction, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. The trade was a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lionel Bonnot sold 3,501 shares of SiTime 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 directly owns 87,940 shares in the company, valued at $15,323,545. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,806 shares of company stock valued at $960,942. 2.30% of the stock is owned by company insiders.

About SiTime

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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