Bank of New York Mellon Corp Sells 4,783 Shares of SiTime Co. (NASDAQ:SITM)

Bank of New York Mellon Corp trimmed its holdings in shares of SiTime Co. (NASDAQ:SITM) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,167 shares of the company’s stock after selling 4,783 shares during the quarter. Bank of New York Mellon Corp owned about 0.52% of SiTime worth $25,994,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SITM. FMR LLC grew its stake in shares of SiTime by 1.1% during the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock valued at $595,113,000 after buying an additional 39,119 shares during the last quarter. State Street Corp increased its position in shares of SiTime by 3.1% during the third quarter. State Street Corp now owns 922,974 shares of the company’s stock valued at $158,299,000 after buying an additional 27,692 shares during the period. Principal Financial Group Inc. raised its stake in SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after buying an additional 59,931 shares in the last quarter. Geode Capital Management LLC raised its stake in SiTime by 3.7% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in SiTime by 7.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock worth $28,440,000 after buying an additional 11,955 shares during the period. 84.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SITM has been the topic of a number of research analyst reports. Barclays upped their target price on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Raymond James reiterated an “outperform” rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Stifel Nicolaus boosted 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. Finally, Needham & Company LLC increased their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $232.00.

Insider Activity

In other SiTime news, insider Fariborz Assaderaghi sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $249.42, for a total transaction of $249,420.00. Following the completion of the sale, the insider now directly owns 101,683 shares in the company, valued at approximately $25,361,773.86. This trade represents a 0.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Raman Chitkara sold 500 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $265.00, for a total transaction of $132,500.00. Following the completion of the transaction, the director now owns 20,719 shares in the company, valued at approximately $5,490,535. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,108 shares of company stock worth $5,474,335 over the last three months. 2.30% of the stock is currently owned by corporate insiders.

SiTime Trading Down 1.8 %

Shares of NASDAQ:SITM opened at $174.84 on Monday. The stock has a fifty day simple moving average of $202.20 and a two-hundred day simple moving average of $192.45. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of -43.17 and a beta of 1.85.

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.