Guggenheim Capital LLC Acquires New Position in SiTime Co. (NASDAQ:SITM)

Guggenheim Capital LLC acquired a new stake in SiTime Co. (NASDAQ:SITM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,152 shares of the company's stock, valued at approximately $462,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. increased its stake in SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after purchasing an additional 67 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of SiTime in the 4th quarter valued at $58,000. Smartleaf Asset Management LLC raised its stake in SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after acquiring an additional 206 shares in the last quarter. AlphaQuest LLC lifted its position in SiTime by 8,460.0% in the fourth quarter. AlphaQuest LLC now owns 428 shares of the company's stock valued at $92,000 after acquiring an additional 423 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in SiTime in the fourth quarter valued at $130,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

SiTime Stock Performance

SiTime stock traded up $13.06 during mid-day trading on Thursday, reaching $159.92. 199,268 shares of the company were exchanged, compared to its average volume of 241,015. The firm's 50-day simple moving average is $152.65 and its two-hundred day simple moving average is $189.85. SiTime Co. has a twelve month low of $86.73 and a twelve month high of $268.18. The firm has a market cap of $3.79 billion, a PE ratio of -39.39 and a beta of 1.98.

Insider Activity at SiTime

In other news, insider Lionel Bonnot sold 3,501 shares of the business's stock in a transaction dated 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction dated 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 directly owns 92,847 shares of the company's stock, valued at $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,542 shares of company stock worth $978,713 in the last three months. Insiders own 2.30% of the company's stock.

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.