First Trust Advisors LP Acquires 7,225 Shares of SiTime Co. (NASDAQ:SITM)

First Trust Advisors LP lifted its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 56.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,950 shares of the company's stock after purchasing an additional 7,225 shares during the period. First Trust Advisors LP owned 0.09% of SiTime worth $4,280,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board raised its stake in SiTime by 211.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,800 shares of the company's stock worth $601,000 after buying an additional 1,900 shares during the period. Marshall Wace LLP bought a new position in shares of SiTime in the 4th quarter worth $236,000. EAM Global Investors LLC acquired a new stake in SiTime in the 4th quarter valued at $3,615,000. PEAK6 LLC bought a new stake in SiTime during the 4th quarter valued at $322,000. Finally, Guggenheim Capital LLC acquired a new position in SiTime during the fourth quarter worth $462,000. Institutional investors and hedge funds own 84.31% of the company's stock.

Insiders Place Their Bets

In related news, insider Fariborz Assaderaghi sold 1,003 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total value of $205,033.26. Following the transaction, the insider now owns 99,678 shares in the company, valued at approximately $20,376,176.76. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction on Monday, March 3rd. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,809 shares of company stock valued at $1,165,975. Company insiders own 2.30% of the company's stock.

Analyst Ratings Changes

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

SiTime Price Performance

NASDAQ SITM opened at $163.82 on Friday. The business's fifty day moving average is $152.47 and its 200-day moving average is $189.57. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of -40.45 and a beta of 1.98. SiTime Co. has a one year low of $91.45 and a one year high of $268.18.

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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