Voya Investment Management LLC Sells 131,655 Shares of SiTime Co. (NASDAQ:SITM)

Voya Investment Management LLC trimmed its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 37.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 219,908 shares of the company's stock after selling 131,655 shares during the period. Voya Investment Management LLC owned about 0.94% of SiTime worth $47,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SITM. Barclays PLC grew its holdings in shares of SiTime by 80.7% during 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 in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after acquiring an additional 206 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in shares of SiTime in the fourth quarter valued at about $538,000. Proficio Capital Partners LLC acquired a new position in shares of SiTime in the fourth quarter valued at about $4,418,000. Finally, Sanctuary Advisors LLC acquired a new stake in SiTime during the third quarter worth about $166,000. Institutional investors own 84.31% of the company's stock.

Insiders Place Their Bets

In related news, insider Piyush B. Sevalia sold 1,038 shares of SiTime 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 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 legal filing with the SEC, which is available at 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 transaction 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 quarter, insiders sold 5,542 shares of company stock valued at $978,713. Corporate insiders own 2.30% of the company's stock.

SiTime Stock Performance

Shares of SITM traded up $11.97 on Thursday, reaching $158.83. The stock had a trading volume of 152,398 shares, compared to its average volume of 240,821. SiTime Co. has a 12-month low of $86.73 and a 12-month high of $268.18. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -39.22 and a beta of 1.98. The company has a 50-day simple moving average of $152.65 and a 200-day simple moving average of $189.85.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SITM shares. Raymond James restated an "outperform" rating and issued a $250.00 price target (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Barclays lowered their price target on shares of SiTime from $180.00 to $110.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus lowered 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, April 17th. Finally, Needham & Company LLC boosted their price target on shares of 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.