Boothbay Fund Management LLC Makes New $381,000 Investment in SiTime Co. (NASDAQ:SITM)

Boothbay Fund Management LLC bought a new stake in SiTime Co. (NASDAQ:SITM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,778 shares of the company's stock, valued at approximately $381,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company's stock valued at $6,515,000 after buying an additional 16,964 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in 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 in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in SiTime during the 4th quarter valued at about $538,000. Proficio Capital Partners LLC bought a new stake in SiTime during the 4th quarter worth approximately $4,418,000. Finally, Principal Financial Group Inc. raised its stake in shares of SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock worth $76,996,000 after purchasing an additional 59,931 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other SiTime news, insider Fariborz Assaderaghi sold 1,267 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $147.80, for a total transaction of $187,262.60. Following the transaction, the insider now owns 113,584 shares of the company's stock, valued at approximately $16,787,715.20. This trade represents a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $163,630.32. Following the completion of the sale, the insider now directly owns 92,847 shares of the company's stock, valued at $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 5,806 shares of company stock valued at $960,942. Corporate insiders own 2.30% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on SITM. Needham & Company LLC lifted 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. Barclays reduced their target price on SiTime from $180.00 to $110.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. Raymond James reaffirmed an "outperform" rating and set 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 dropped their price objective on shares of SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $204.00.

SiTime Trading Down 2.1 %

Shares of NASDAQ SITM traded down $3.48 during mid-day trading on Wednesday, reaching $161.79. The company had a trading volume of 27,908 shares, compared to its average volume of 241,735. SiTime Co. has a 52 week low of $94.82 and a 52 week high of $268.18. The business's 50-day moving average is $152.66 and its 200-day moving average is $189.57. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of -40.18 and a beta of 2.24.

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.