Dimensional Fund Advisors LP Trims Stock Holdings in SiTime Co. (NASDAQ:SITM)

Dimensional Fund Advisors LP cut its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 267,068 shares of the company's stock after selling 17,941 shares during the quarter. Dimensional Fund Advisors LP owned about 1.14% of SiTime worth $57,295,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SITM. Vanguard Group Inc. grew its position in shares of SiTime by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company's stock valued at $529,535,000 after purchasing an additional 52,310 shares during the period. Invesco Ltd. raised its position in SiTime by 11.0% in the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company's stock valued at $210,921,000 after purchasing an additional 97,062 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of SiTime by 15.4% during the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock worth $76,996,000 after acquiring an additional 59,931 shares in the last quarter. Geode Capital Management LLC lifted its position in SiTime by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 442,897 shares of the company's stock valued at $95,037,000 after acquiring an additional 1,975 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in SiTime by 36.4% in the 4th quarter. Wellington Management Group LLP now owns 195,573 shares of the company's stock valued at $41,956,000 after acquiring an additional 52,221 shares during the period. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Price Performance

Shares of NASDAQ SITM traded down $0.61 during midday trading on Wednesday, hitting $164.66. The stock had a trading volume of 23,502 shares, compared to its average volume of 241,711. SiTime Co. has a fifty-two week low of $94.82 and a fifty-two week high of $268.18. The company's 50-day simple moving average is $152.66 and its 200 day simple moving average is $189.57. The firm has a market cap of $3.91 billion, a P/E ratio of -40.62 and a beta of 2.24.

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 1,267 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $147.80, for a total transaction of $187,262.60. Following the completion of the sale, the insider now owns 113,584 shares of the company's stock, valued at approximately $16,787,715.20. This represents a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Piyush B. Sevalia sold 1,038 shares of the company's stock in a transaction 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 transaction, the insider now owns 92,847 shares in the company, valued at approximately $14,636,401.08. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,806 shares of company stock valued at $960,942 in the last 90 days. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SITM. Raymond James reaffirmed an "outperform" rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Barclays reduced their price objective on SiTime from $180.00 to $110.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC raised their target price on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus lowered their price objective on SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, SiTime currently has an average rating of "Moderate Buy" and an average target price of $204.00.

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.