Wells Fargo & Company MN Has $3.17 Million Stock Position in SiTime Co. (NASDAQ:SITM)

Wells Fargo & Company MN boosted its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,788 shares of the company's stock after acquiring an additional 3,004 shares during the quarter. Wells Fargo & Company MN owned 0.06% of SiTime worth $3,172,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after purchasing an additional 67 shares during the period. Smartleaf Asset Management LLC increased its stake in SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after buying an additional 206 shares during the period. AlphaQuest LLC raised its position in shares of SiTime by 8,460.0% during the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after buying an additional 423 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of SiTime in the 4th quarter worth approximately $130,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of SiTime in the 4th quarter worth approximately $140,000. Institutional investors own 84.31% of the company's stock.

SiTime Stock Down 2.9 %

Shares of NASDAQ:SITM traded down $4.44 during trading on Monday, reaching $148.60. 216,953 shares of the company traded hands, compared to its average volume of 241,307. SiTime Co. has a 1-year low of $86.73 and a 1-year high of $268.18. The firm has a market cap of $3.53 billion, a P/E ratio of -36.69 and a beta of 1.98. The firm has a fifty day simple moving average of $153.98 and a 200 day simple moving average of $190.45.

Insider Buying and Selling

In related news, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction on 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 sale, the insider now owns 87,940 shares of the company's stock, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, 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 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.

Analysts Set New Price Targets

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