Wasatch Advisors LP Has $18.56 Million Stock Holdings in SiTime Co. (NASDAQ:SITM)

Wasatch Advisors LP reduced its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 84.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 86,524 shares of the company's stock after selling 480,253 shares during the period. Wasatch Advisors LP owned approximately 0.37% of SiTime worth $18,562,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its position in SiTime by 80.7% in the 3rd quarter. Barclays PLC now owns 37,982 shares of the company's stock valued at $6,515,000 after acquiring an additional 16,964 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of SiTime by 3.7% during the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company's stock worth $75,637,000 after buying an additional 15,759 shares during the period. Virtu Financial LLC bought a new position in shares of SiTime during the third quarter worth about $204,000. Sanctuary Advisors LLC bought a new stake in SiTime in the 3rd quarter valued at approximately $166,000. Finally, Principal Financial Group Inc. lifted its stake in SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after acquiring an additional 59,931 shares in the last quarter. Institutional investors own 84.31% of the company's stock.

SiTime Price Performance

SiTime stock traded up $2.57 during mid-day trading on Tuesday, hitting $129.14. 27,859 shares of the company's stock traded hands, compared to its average volume of 240,156. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -32.18 and a beta of 1.98. The firm has a 50 day simple moving average of $157.29 and a two-hundred day simple moving average of $191.78.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Needham & Company LLC lifted 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. Stifel Nicolaus reduced their price target on SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Barclays boosted their price target 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 restated an "outperform" rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $214.00.

Insider Buying and Selling

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the company's stock in a transaction 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 directly owns 87,940 shares of the company's stock, valued at $15,323,545. This represents a 3.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction 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 of the company's stock, valued at $20,376,176.76. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,542 shares of company stock valued at $978,713. Company insiders own 2.30% of the company's stock.

SiTime Company 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.