SiTime Co. (NASDAQ:SITM) Shares Sold by Toronado Partners LLC

Toronado Partners LLC lowered its position in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 20.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 75,625 shares of the company's stock after selling 18,885 shares during the quarter. SiTime comprises approximately 10.3% of Toronado Partners LLC's holdings, making the stock its 4th largest holding. Toronado Partners LLC owned approximately 0.32% of SiTime worth $16,224,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. HighTower Advisors LLC increased its holdings in 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 buying an additional 1,748 shares during the last quarter. State Street Corp lifted its stake in shares of SiTime by 3.1% in the 3rd quarter. State Street Corp now owns 922,974 shares of the company's stock worth $158,299,000 after acquiring an additional 27,692 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of SiTime in the 3rd quarter worth $588,000. Public Employees Retirement System of Ohio raised its stake in SiTime by 6.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 17,960 shares of the company's stock valued at $3,080,000 after purchasing an additional 1,039 shares during the period. Finally, Barclays PLC boosted its position in shares of SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after buying an additional 16,964 shares during the period. Hedge funds and other institutional investors 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 that occurred on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total value of $205,033.26. Following the sale, the insider now directly owns 99,678 shares in the company, valued at approximately $20,376,176.76. This represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lionel Bonnot sold 3,501 shares of the firm's stock in a transaction that occurred on 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 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. In the last 90 days, insiders have sold 5,542 shares of company stock worth $978,713. 2.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

SiTime Stock Up 0.3 %

NASDAQ SITM traded up $0.42 during trading on Thursday, hitting $130.20. The company's stock had a trading volume of 114,753 shares, compared to its average volume of 320,810. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18. The firm has a market cap of $3.07 billion, a P/E ratio of -32.15 and a beta of 1.98. The firm has a 50 day moving average price of $159.71 and a 200 day moving average price of $192.44.

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.