Hsbc Holdings PLC Purchases 2,207 Shares of SiTime Co. (NASDAQ:SITM)

Hsbc Holdings PLC lifted its position in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 84.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,816 shares of the company's stock after buying an additional 2,207 shares during the quarter. Hsbc Holdings PLC's holdings in SiTime were worth $1,043,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after acquiring an additional 67 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of SiTime during the fourth quarter valued at approximately $58,000. Smartleaf Asset Management LLC increased its holdings in SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after buying an additional 206 shares during the period. AlphaQuest LLC raised its stake in SiTime by 8,460.0% in the fourth quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after buying an additional 423 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in SiTime during the fourth quarter worth $130,000. Hedge funds and other institutional investors own 84.31% of the company's stock.

SiTime Stock Performance

SiTime stock opened at $163.82 on Friday. The stock has a market cap of $3.89 billion, a PE ratio of -40.45 and a beta of 1.98. The stock has a 50-day moving average of $152.47 and a two-hundred day moving average of $189.69. SiTime Co. has a one year low of $92.36 and a one year high of $268.18.

Insider Activity at SiTime

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the company's stock in a transaction that occurred 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 approximately $15,323,545. This represents a 3.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total transaction of $205,033.26. Following the sale, the insider now owns 99,678 shares of the company's stock, valued at $20,376,176.76. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,809 shares of company stock valued at $1,165,975 in the last three months. 2.30% of the stock is owned by insiders.

Analysts Set New Price Targets

SITM has been the topic of a number of analyst reports. Barclays cut their price target on SiTime from $180.00 to $110.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC lifted 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. Stifel Nicolaus decreased their price target 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. Finally, Raymond James reaffirmed an "outperform" rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, SiTime has a consensus rating of "Moderate Buy" and a consensus price target 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.

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