Proficio Capital Partners LLC Takes Position in SiTime Co. (NASDAQ:SITM)

Proficio Capital Partners LLC purchased a new stake in shares of SiTime Co. (NASDAQ:SITM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,595 shares of the company’s stock, valued at approximately $4,418,000. Proficio Capital Partners LLC owned approximately 0.09% of SiTime at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings 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 during the last quarter. Smartleaf Asset Management LLC raised its position in shares of 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 purchasing an additional 206 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of SiTime in the 4th quarter worth approximately $140,000. Assetmark Inc. boosted its position in SiTime by 21.2% during the 4th quarter. Assetmark Inc. now owns 882 shares of the company’s stock valued at $189,000 after purchasing an additional 154 shares during the period. Finally, GAMMA Investing LLC grew its stake in SiTime by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 944 shares of the company’s stock worth $203,000 after buying an additional 201 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Fariborz Assaderaghi sold 1,002 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total transaction of $221,381.88. Following the completion of the transaction, the insider now owns 100,681 shares in the company, valued at approximately $22,244,460.14. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the completion of the transaction, the insider now owns 87,940 shares in the company, valued at approximately $15,323,545. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,544 shares of company stock worth $1,200,095. 2.30% of the stock is owned by company insiders.

SiTime Price Performance

NASDAQ SITM opened at $170.46 on Tuesday. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $268.18. The firm has a market capitalization of $4.02 billion, a PE ratio of -42.09 and a beta of 1.85. The company’s 50 day simple moving average is $194.80 and its 200 day simple moving average is $193.26.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SITM. Needham & Company LLC raised their target price on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Barclays lifted their price objective on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Stifel Nicolaus upped their target price on shares of SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Raymond James reaffirmed an “outperform” rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, SiTime presently has an average rating of “Moderate Buy” and a consensus price target of $232.00.

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.