Geode Capital Management LLC Grows Stock Position in SiTime Co. (NASDAQ:SITM)

Geode Capital Management LLC grew its position in SiTime Co. (NASDAQ:SITM - Free Report) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 442,897 shares of the company's stock after acquiring an additional 1,975 shares during the period. Geode Capital Management LLC owned about 1.90% of SiTime worth $95,037,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. 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 increased its position in SiTime by 3.1% during the 3rd quarter. State Street Corp now owns 922,974 shares of the company's stock worth $158,299,000 after purchasing an additional 27,692 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in SiTime in the third quarter valued at about $588,000. Public Employees Retirement System of Ohio lifted its position in shares of SiTime by 6.1% during the third quarter. Public Employees Retirement System of Ohio now owns 17,960 shares of the company's stock worth $3,080,000 after purchasing an additional 1,039 shares in the last quarter. Finally, Barclays PLC grew its stake in SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company's stock valued at $6,515,000 after purchasing an additional 16,964 shares in the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on SITM. Stifel Nicolaus lifted their price objective on shares of SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. 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 report on Thursday, February 6th. Barclays upped their target price on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research report on Friday, January 17th. Finally, Raymond James reissued an "outperform" rating and set a $250.00 target price (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, SiTime presently has an average rating of "Moderate Buy" and a consensus target price of $232.00.

Insider Buying and Selling

In related news, insider Piyush B. Sevalia sold 1,038 shares of the business's stock in a transaction on 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 in the company, valued at $14,636,401.08. The trade was a 1.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the completion of the sale, the insider now owns 87,940 shares of the company's stock, valued at $15,323,545. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,542 shares of company stock worth $978,713. Insiders own 2.30% of the company's stock.

SiTime Trading Down 6.2 %

Shares of SITM stock traded down $8.64 during trading hours on Wednesday, hitting $129.61. 42,662 shares of the company were exchanged, compared to its average volume of 239,428. The company has a market capitalization of $3.06 billion, a PE ratio of -31.93 and a beta of 1.98. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18. The business has a 50 day moving average of $160.71 and a two-hundred day moving average of $192.88.

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.