PNC Financial Services Group Inc. Buys 118 Shares of SiTime Co. (NASDAQ:SITM)

PNC Financial Services Group Inc. boosted its stake in SiTime Co. (NASDAQ:SITM) by 15.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 877 shares of the company’s stock after buying an additional 118 shares during the period. PNC Financial Services Group Inc.’s holdings in SiTime were worth $188,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of SiTime in the 4th quarter valued at approximately $1,188,000. Lisanti Capital Growth LLC grew its stake in SiTime by 42.1% in the fourth quarter. Lisanti Capital Growth LLC now owns 29,245 shares of the company’s stock worth $6,274,000 after purchasing an additional 8,660 shares during the period. Raymond James Financial Inc. bought a new position in SiTime in the fourth quarter worth $7,312,000. Arizona State Retirement System lifted its position in SiTime by 1.9% during the fourth quarter. Arizona State Retirement System now owns 5,368 shares of the company’s stock valued at $1,152,000 after buying an additional 99 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of SiTime during the 4th quarter valued at $4,418,000. 84.31% of the stock is owned by institutional investors.

SiTime Stock Performance

NASDAQ:SITM opened at $178.26 on Monday. The firm 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 fifty-two week low of $72.39 and a fifty-two week high of $268.18. The firm has a 50-day simple moving average of $190.51 and a two-hundred day simple moving average of $194.35.

Insider Activity

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the transaction, the insider now owns 87,940 shares of the company’s stock, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Piyush B. Sevalia sold 1,038 shares of the company’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 owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,544 shares of company stock worth $1,200,095 over the last 90 days. 2.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on SITM shares. Barclays increased their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. 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 research note on Thursday, February 6th. Needham & Company LLC boosted their price target on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, 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. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SiTime currently has a consensus rating of “Moderate Buy” and a consensus target price 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.