Neuberger Berman Group LLC Makes New $6.30 Million Investment in SiTime Co. (NASDAQ:SITM)

Neuberger Berman Group LLC bought a new stake in SiTime Co. (NASDAQ:SITM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 29,343 shares of the company's stock, valued at approximately $6,295,000. Neuberger Berman Group LLC owned 0.13% of SiTime as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in SITM. HighTower Advisors LLC grew its position in shares of SiTime by 16.4% in the third quarter. HighTower Advisors LLC now owns 12,388 shares of the company's stock valued at $2,137,000 after purchasing an additional 1,748 shares during the last quarter. State Street Corp grew its holdings in SiTime by 3.1% during the 3rd quarter. State Street Corp now owns 922,974 shares of the company's stock valued at $158,299,000 after buying an additional 27,692 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in SiTime during the third quarter worth $588,000. Public Employees Retirement System of Ohio lifted its position in shares of SiTime by 6.1% in the third quarter. Public Employees Retirement System of Ohio now owns 17,960 shares of the company's stock valued at $3,080,000 after acquiring an additional 1,039 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of SiTime by 80.7% during the third quarter. Barclays PLC now owns 37,982 shares of the company's stock valued at $6,515,000 after acquiring an additional 16,964 shares during the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on SITM shares. Needham & Company LLC raised their target price on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Raymond James reiterated an "outperform" rating and issued a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Barclays raised their price target on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Finally, Stifel Nicolaus dropped their price objective on shares of SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $214.00.

Insider Activity at SiTime

In other news, insider Lionel Bonnot sold 3,501 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $174.25, for a total value of $610,049.25. Following the transaction, the insider now owns 87,940 shares in the company, valued at $15,323,545. This represents a 3.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the transaction, the insider now owns 92,847 shares in the company, valued at approximately $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 sold a total of 5,542 shares of company stock valued at $978,713 over the last ninety days. Insiders own 2.30% of the company's stock.

SiTime Trading Down 1.4 %

SITM traded down $1.78 during trading hours on Thursday, hitting $128.01. The company's stock had a trading volume of 85,493 shares, compared to its average volume of 240,177. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18. The company has a 50-day simple moving average of $159.71 and a 200 day simple moving average of $192.44. The firm has a market capitalization of $3.02 billion, a PE ratio of -31.54 and a beta of 1.98.

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.