Montanaro Asset Management Ltd Boosts Holdings in SiTime Co. (NASDAQ:SITM)

Montanaro Asset Management Ltd grew its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 17.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,550 shares of the company's stock after buying an additional 10,000 shares during the period. SiTime accounts for about 1.6% of Montanaro Asset Management Ltd's investment portfolio, making the stock its 28th largest position. Montanaro Asset Management Ltd owned about 0.30% of SiTime worth $8,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nemes Rush Group LLC increased its position in SiTime by 26.9% in the fourth quarter. Nemes Rush Group LLC now owns 542 shares of the company's stock worth $66,000 after purchasing an additional 115 shares during the last quarter. Assetmark Inc. increased its position in SiTime by 24.4% in the fourth quarter. Assetmark Inc. now owns 781 shares of the company's stock worth $95,000 after purchasing an additional 153 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in SiTime in the fourth quarter worth $202,000. Norges Bank bought a new stake in SiTime in the fourth quarter worth $12,662,000. Finally, Brown Advisory Inc. increased its position in SiTime by 125.1% in the fourth quarter. Brown Advisory Inc. now owns 155,947 shares of the company's stock worth $19,038,000 after purchasing an additional 86,675 shares during the last quarter. Institutional investors own 84.31% of the company's stock.

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 1,288 shares of the business's stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $84.25, for a total value of $108,514.00. Following the completion of the transaction, the insider now directly owns 110,203 shares in the company, valued at $9,284,602.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Fariborz Assaderaghi sold 1,288 shares of the company's stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $84.25, for a total transaction of $108,514.00. Following the transaction, the insider now owns 110,203 shares in the company, valued at $9,284,602.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Lionel Bonnot sold 781 shares of the company's stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $117.08, for a total transaction of $91,439.48. Following the transaction, the insider now owns 98,299 shares in the company, valued at approximately $11,508,846.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,151 shares of company stock worth $615,401. 2.30% of the stock is owned by corporate insiders.

SiTime Stock Performance

SiTime stock traded down $4.85 during trading hours on Tuesday, reaching $126.02. The stock had a trading volume of 165,039 shares, compared to its average volume of 211,429. The business's 50 day moving average price is $93.30 and its 200-day moving average price is $105.60. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $141.99.

Analysts Set New Price Targets

Separately, Needham & Company LLC raised shares of SiTime from a "hold" rating to a "buy" rating and set a $130.00 price objective for the company in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $140.00.

SiTime 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.

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