Vanguard Group Inc. Purchases 52,310 Shares of SiTime Co. (NASDAQ:SITM)

Vanguard Group Inc. raised its holdings in SiTime Co. (NASDAQ:SITM) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,468,348 shares of the company’s stock after buying an additional 52,310 shares during the quarter. Vanguard Group Inc. owned 0.11% of SiTime worth $529,535,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SITM. Barclays PLC boosted its position in shares of SiTime by 80.7% during 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. Smartleaf Asset Management LLC lifted its stake in SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after purchasing an additional 206 shares during the period. Baader Bank Aktiengesellschaft acquired a new stake in SiTime during the fourth quarter valued at approximately $538,000. Proficio Capital Partners LLC bought a new stake in shares of SiTime in the 4th quarter valued at approximately $4,418,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of SiTime in the 3rd quarter worth approximately $166,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Buying and Selling at SiTime

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 transaction of $163,630.32. Following the completion of the sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Fariborz Assaderaghi sold 1,002 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total value of $221,381.88. Following the completion of the transaction, the insider now directly owns 100,681 shares in the company, valued at $22,244,460.14. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,544 shares of company stock worth $1,200,095. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SITM has been the topic of several recent analyst reports. Barclays boosted their target price on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. 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 report on Thursday, February 6th. Raymond James reaffirmed an “outperform” rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Finally, Stifel Nicolaus boosted their target price on SiTime from $250.00 to $270.00 and gave the stock 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

SiTime Stock Performance

NASDAQ SITM opened at $152.87 on Tuesday. The stock has a market capitalization of $3.61 billion, a P/E ratio of -37.75 and a beta of 1.85. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18. The stock has a fifty day moving average of $182.06 and a 200-day moving average of $195.83.

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.