Barclays PLC cut its stake in SiTime Co. (NASDAQ:SITM - Free Report) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,168 shares of the company's stock after selling 3,814 shares during the quarter. Barclays PLC owned about 0.15% of SiTime worth $7,330,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Virtu Financial LLC purchased a new position in SiTime during the 3rd quarter valued at about $204,000. Sanctuary Advisors LLC purchased a new position in shares of SiTime in the 3rd quarter valued at about $166,000. Principal Financial Group Inc. boosted its stake in shares of SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after buying an additional 59,931 shares during the period. GAMMA Investing LLC raised its position in shares of SiTime by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 944 shares of the company's stock worth $203,000 after acquiring an additional 201 shares in the last quarter. Finally, Hanseatic Management Services Inc. acquired a new stake in shares of SiTime during the 4th quarter worth about $702,000. 84.31% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at SiTime
In other news, insider Piyush B. Sevalia sold 1,038 shares of SiTime 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 completion of the sale, 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 filing with the SEC, which is available through the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 99,678 shares of the company's stock, valued at approximately $20,376,176.76. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,542 shares of company stock worth $978,713 over the last ninety days. 2.30% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research firms have commented on SITM. Barclays cut their price target on SiTime from $180.00 to $110.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC raised 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. Raymond James reiterated an "outperform" rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Finally, Stifel Nicolaus reduced their price objective on shares of SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, SiTime currently has an average rating of "Moderate Buy" and a consensus price target of $204.00.
Check Out Our Latest Research Report on SiTime
SiTime Price Performance
SITM traded up $0.07 during midday trading on Wednesday, reaching $146.86. 181,614 shares of the company's stock were exchanged, compared to its average volume of 241,148. The stock has a market capitalization of $3.48 billion, a PE ratio of -36.26 and a beta of 1.98. The business's 50-day moving average price is $152.65 and its 200 day moving average price is $189.85. SiTime Co. has a 1-year low of $86.73 and a 1-year high of $268.18.
SiTime Company Profile
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Free Report)
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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