Invesco Ltd. Has $210.92 Million Holdings in SiTime Co. (NASDAQ:SITM)

Invesco Ltd. boosted its stake in SiTime Co. (NASDAQ:SITM - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 983,175 shares of the company's stock after purchasing an additional 97,062 shares during the period. Invesco Ltd. owned about 4.21% of SiTime worth $210,921,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SITM. Bank of Montreal Can raised its position in SiTime by 15.6% in the fourth quarter. Bank of Montreal Can now owns 2,135 shares of the company's stock valued at $458,000 after purchasing an additional 288 shares during the last quarter. Polymer Capital Management HK LTD raised its holdings in SiTime by 434.1% in the 4th quarter. Polymer Capital Management HK LTD now owns 34,386 shares of the company's stock valued at $7,377,000 after buying an additional 27,948 shares during the last quarter. Federated Hermes Inc. bought a new position in SiTime in the 4th quarter valued at approximately $15,446,000. Aster Capital Management DIFC Ltd acquired a new stake in SiTime during the 4th quarter worth approximately $58,000. Finally, Wells Fargo & Company MN grew its holdings in SiTime by 25.5% during the 4th quarter. Wells Fargo & Company MN now owns 14,788 shares of the company's stock worth $3,172,000 after acquiring an additional 3,004 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Piyush B. Sevalia sold 1,038 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $157.64, for a total value of $163,630.32. Following the completion of the sale, the insider now directly owns 92,847 shares of the company's stock, valued at $14,636,401.08. The trade was a 1.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of the 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 completion of the transaction, the insider now owns 99,678 shares in the company, valued at approximately $20,376,176.76. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,542 shares of company stock worth $978,713. 2.30% of the stock is owned by corporate insiders.

SiTime Stock Down 1.8 %

SiTime stock traded down $2.31 during trading hours on Thursday, reaching $127.47. 67,249 shares of the company's stock were exchanged, compared to its average volume of 240,112. The firm has a market capitalization of $3.01 billion, a PE ratio of -31.36 and a beta of 1.98. The firm's 50 day simple moving average is $159.71 and its 200 day simple moving average is $192.44. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SITM shares. Stifel Nicolaus cut their price target on shares of SiTime from $270.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday. Needham & Company LLC lifted their target price on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. 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 report on Thursday, February 6th. Finally, Barclays raised their price objective on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.