SiTime Co. (NASDAQ:SITM) Stake Raised by Amundi

Amundi boosted its holdings in SiTime Co. (NASDAQ:SITM) by 196.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 9,780 shares of the company’s stock after purchasing an additional 6,481 shares during the quarter. Amundi’s holdings in SiTime were worth $2,281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after acquiring an additional 67 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after buying an additional 206 shares during the period. SBI Securities Co. Ltd. acquired a new stake in SiTime during the 4th quarter worth about $140,000. Sanctuary Advisors LLC acquired a new stake in SiTime during the 3rd quarter worth about $166,000. Finally, PNC Financial Services Group Inc. raised its holdings in SiTime by 15.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 877 shares of the company’s stock worth $188,000 after buying an additional 118 shares during the period. 84.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SITM has been the topic of several recent analyst reports. Barclays boosted 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. Needham & Company LLC boosted their price objective on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Raymond James restated an “outperform” rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Finally, Stifel Nicolaus upped their target price on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a 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 stock. According to data from MarketBeat.com, SiTime has an average rating of “Moderate Buy” and a consensus target price of $232.00.

SiTime Price Performance

Shares of SITM opened at $170.46 on Tuesday. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of -42.09 and a beta of 1.85. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18. The business’s 50-day moving average is $194.80 and its 200-day moving average is $193.26.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,003 shares of the business’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 completion of the sale, the insider now owns 99,678 shares of the company’s stock, valued at approximately $20,376,176.76. The trade was a 1.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lionel Bonnot sold 3,501 shares of the business’s stock in a transaction that occurred 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 directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 6,544 shares of company stock valued at $1,200,095. 2.30% of the stock is owned by corporate insiders.

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.