Blue Trust Inc. Increases Stake in SiTime Co. (NASDAQ:SITM)

Blue Trust Inc. increased its stake in shares of SiTime Co. (NASDAQ:SITM) by 44.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 217 shares of the company’s stock after acquiring an additional 67 shares during the quarter. Blue Trust Inc.’s holdings in SiTime were worth $47,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SITM. FMR LLC boosted its holdings in shares of SiTime by 1.1% during the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock valued at $595,113,000 after purchasing an additional 39,119 shares during the last quarter. State Street Corp lifted its position in shares of SiTime by 3.1% in the third quarter. State Street Corp now owns 922,974 shares of the company’s stock worth $158,299,000 after buying an additional 27,692 shares in the last quarter. Principal Financial Group Inc. boosted its stake in SiTime by 15.4% during the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after buying an additional 59,931 shares during the last quarter. Geode Capital Management LLC grew its holdings in SiTime by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock valued at $75,637,000 after buying an additional 15,759 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in SiTime by 7.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock worth $28,440,000 after acquiring an additional 11,955 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SITM shares. Stifel Nicolaus raised their target price on shares of SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Roth Mkm lifted their price objective on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. 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. Barclays increased their price target on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Finally, Needham & Company LLC boosted their price objective on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, SiTime has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

Insider Buying and Selling

In other SiTime news, insider Fariborz Assaderaghi sold 1,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $249.42, for a total value of $249,420.00. Following the sale, the insider now owns 101,683 shares in the company, valued at $25,361,773.86. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rajesh Vashist sold 12,000 shares of SiTime stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $259.25, for a total value of $3,111,000.00. Following the sale, the chief executive officer now owns 24,781 shares of the company’s stock, valued at approximately $6,424,474.25. This trade represents a 32.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,072 shares of company stock valued at $5,527,988 in the last ninety days. 2.30% of the stock is owned by company insiders.

SiTime Trading Up 4.8 %

Shares of SITM opened at $167.97 on Thursday. The company’s fifty day simple moving average is $210.29 and its 200-day simple moving average is $190.70. The company has a market cap of $3.96 billion, a P/E ratio of -41.47 and a beta of 1.80. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18.

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.