Grandeur Peak Global Advisors LLC Trims Position in SiTime Co. (NASDAQ:SITM)

Grandeur Peak Global Advisors LLC reduced its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 59.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,718 shares of the company's stock after selling 42,083 shares during the period. Grandeur Peak Global Advisors LLC owned about 0.12% of SiTime worth $6,161,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of SiTime by 80.7% in the 3rd quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after purchasing an additional 16,964 shares in the last quarter. Smartleaf Asset Management LLC increased its position in SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after buying an additional 206 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of SiTime during the 4th quarter valued at about $538,000. Proficio Capital Partners LLC purchased a new position in shares of SiTime during the 4th quarter valued at about $4,418,000. Finally, Sanctuary Advisors LLC bought a new position in shares of SiTime during the 3rd quarter valued at approximately $166,000. 84.31% of the stock is currently owned by institutional investors.

Insider Activity

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $174.25, for a total transaction of $610,049.25. Following the transaction, the insider now owns 87,940 shares in the company, valued at $15,323,545. The trade was a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction 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 directly owns 99,678 shares in the company, valued at approximately $20,376,176.76. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,542 shares of company stock valued at $978,713 in the last ninety days. Insiders own 2.30% of the company's stock.

SiTime Price Performance

Shares of SiTime stock traded up $0.39 during trading hours on Thursday, reaching $130.17. The company's stock had a trading volume of 114,753 shares, compared to its average volume of 240,303. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The firm has a 50 day moving average price of $159.71 and a 200-day moving average price of $192.44. The stock has a market cap of $3.07 billion, a P/E ratio of -32.15 and a beta of 1.98.

Wall Street Analyst Weigh In

SITM has been the topic of several analyst reports. Needham & Company LLC lifted their price target on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, February 6th. 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 note on Thursday. Raymond James reiterated an "outperform" rating and issued a $250.00 price target (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Finally, Barclays boosted their price objective on SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $214.00.

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.