Norges Bank Makes New $3.28 Million Investment in SiTime Co. (NASDAQ:SITM)

Norges Bank acquired a new position in SiTime Co. (NASDAQ:SITM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,293 shares of the company's stock, valued at approximately $3,281,000. Norges Bank owned about 0.07% of SiTime at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in shares of SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after acquiring an additional 67 shares during the last quarter. Smartleaf Asset Management LLC raised its position in SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after purchasing an additional 206 shares during the period. AlphaQuest LLC boosted its position in SiTime by 8,460.0% during the fourth quarter. AlphaQuest LLC now owns 428 shares of the company's stock valued at $92,000 after buying an additional 423 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of SiTime in the fourth quarter worth about $130,000. Finally, SBI Securities Co. Ltd. bought a new stake in SiTime in the fourth quarter valued at approximately $140,000. Institutional investors own 84.31% of the company's stock.

SiTime Stock Performance

SITM stock traded down $7.28 during midday trading on Wednesday, reaching $130.96. The company's stock had a trading volume of 26,376 shares, compared to its average volume of 239,363. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -32.45 and a beta of 1.98. The stock has a fifty day simple moving average of $160.71 and a two-hundred day simple moving average of $192.88. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $268.18.

Insider Transactions at SiTime

In other news, 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $610,049.25. Following the sale, the insider now owns 87,940 shares in the company, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,542 shares of company stock valued at $978,713. 2.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SITM shares. Barclays increased their target price on shares of SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a report on Friday, January 17th. Needham & Company LLC increased 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. Raymond James restated an "outperform" rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Finally, Stifel Nicolaus raised their price objective on SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $232.00.

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.