Raymond James Financial Inc. Takes Position in SiTime Co. (NASDAQ:SITM)

Raymond James Financial Inc. acquired a new position in SiTime Co. (NASDAQ:SITM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 34,086 shares of the company's stock, valued at approximately $7,312,000. Raymond James Financial Inc. owned 0.15% of SiTime as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Mutual of America Capital Management LLC grew its position in SiTime by 1.7% in the 4th quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company's stock valued at $615,000 after buying an additional 48 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of SiTime by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company's stock worth $2,307,000 after purchasing an additional 57 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after purchasing an additional 67 shares in the last quarter. Arizona State Retirement System lifted its stake in SiTime by 1.9% during the fourth quarter. Arizona State Retirement System now owns 5,368 shares of the company's stock valued at $1,152,000 after purchasing an additional 99 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in SiTime by 0.4% in the fourth quarter. New York State Teachers Retirement System now owns 23,700 shares of the company's stock worth $5,084,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company's stock.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,003 shares of the company's 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 transaction, the insider now owns 99,678 shares of the company's stock, valued at $20,376,176.76. This represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lionel Bonnot sold 3,501 shares of the 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 completion of the transaction, the insider now directly owns 87,940 shares in the company, valued at $15,323,545. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,542 shares of company stock worth $978,713. Insiders own 2.30% of the company's stock.

SiTime Stock Down 1.4 %

NASDAQ:SITM traded down $2.14 during trading hours on Tuesday, reaching $146.46. The company had a trading volume of 17,596 shares, compared to its average volume of 240,432. The stock has a 50-day moving average of $153.98 and a two-hundred day moving average of $190.45. SiTime Co. has a one year low of $86.73 and a one year high of $268.18. The firm has a market capitalization of $3.47 billion, a PE ratio of -36.00 and a beta of 1.98.

Wall Street Analysts Forecast Growth

SITM has been the subject of a number of recent research reports. Needham & Company LLC increased their price objective on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Raymond James reiterated an "outperform" rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Stifel Nicolaus cut their price objective on SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Barclays cut their target price on shares of SiTime from $180.00 to $110.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $204.00.

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.