34,086 Shares in SiTime Co. (NASDAQ:SITM) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of SiTime Co. (NASDAQ:SITM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 34,086 shares of the company’s stock, valued at approximately $7,312,000. Raymond James Financial Inc. owned about 0.15% of SiTime as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Barclays PLC grew its holdings in SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company’s stock worth $6,515,000 after purchasing an additional 16,964 shares during the period. Smartleaf Asset Management LLC grew its holdings in SiTime by 278.4% in 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 in the fourth quarter worth $538,000. FMR LLC grew its holdings in SiTime by 1.1% in the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after purchasing an additional 39,119 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in SiTime in the fourth quarter worth $4,418,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Price Performance

Shares of NASDAQ SITM opened at $178.26 on Monday. The stock has a market capitalization of $4.21 billion, a P/E ratio of -44.01 and a beta of 1.85. The company has a 50-day moving average price of $190.51 and a 200-day moving average price of $194.35. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $268.18.

Insider Activity at SiTime

In related news, insider Lionel Bonnot sold 3,501 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $174.25, for a total transaction of $610,049.25. Following the transaction, the insider now directly owns 87,940 shares of the company’s stock, valued at $15,323,545. This trade represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the transaction, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,544 shares of company stock valued at $1,200,095 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Needham & Company LLC raised their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a report 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 report on Friday, January 17th. 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. Finally, Raymond James reiterated an “outperform” rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a report 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

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.