Swiss National Bank Increases Stock Position in SiTime Co. (NASDAQ:SITM)

Swiss National Bank grew its stake in SiTime Co. (NASDAQ:SITM) by 1.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 36,400 shares of the company’s stock after acquiring an additional 600 shares during the period. Swiss National Bank owned about 0.16% of SiTime worth $7,809,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after purchasing an additional 67 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake 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 acquiring an additional 206 shares in the last quarter. AlphaQuest LLC boosted its holdings in SiTime by 8,460.0% during the 4th quarter. AlphaQuest LLC now owns 428 shares of the company’s stock valued at $92,000 after acquiring an additional 423 shares during the period. SBI Securities Co. Ltd. acquired a new position in SiTime in the 4th quarter valued at about $140,000. Finally, Sanctuary Advisors LLC purchased a new stake in SiTime during the third quarter worth about $166,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insiders Place Their Bets

In other news, insider Fariborz Assaderaghi sold 1,003 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $204.42, for a total transaction of $205,033.26. Following the sale, the insider now owns 99,678 shares of the company’s stock, valued at approximately $20,376,176.76. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total value of $163,630.32. Following the completion of the transaction, the insider now directly owns 92,847 shares of the company’s stock, valued at $14,636,401.08. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,544 shares of company stock valued at $1,200,095 in the last ninety days. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

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

SiTime Trading Up 0.6 %

SiTime stock opened at $178.26 on Friday. The company has a fifty day simple moving average of $190.51 and a 200-day simple moving average of $193.94. The stock has a market cap of $4.21 billion, a P/E ratio of -44.01 and a beta of 1.85. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18.

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.