SiTime Co. (NASDAQ:SITM) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its position in SiTime Co. (NASDAQ:SITM) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,703 shares of the company’s stock after selling 849 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of SiTime worth $10,877,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SITM. LMR Partners LLP grew its position in SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after purchasing an additional 70,500 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of SiTime by 15.4% during 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 during the last quarter. FMR LLC increased its position in SiTime by 1.1% in the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock valued at $595,113,000 after acquiring an additional 39,119 shares during the period. State Street Corp increased its position in SiTime by 3.1% in the 3rd quarter. State Street Corp now owns 922,974 shares of the company’s stock valued at $158,299,000 after acquiring an additional 27,692 shares during the period. Finally, Barclays PLC raised its stake in SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after acquiring an additional 16,964 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Stock Down 0.1 %

NASDAQ:SITM opened at $179.93 on Monday. The stock has a fifty day simple moving average of $214.79 and a 200-day simple moving average of $189.77. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18. The company has a market capitalization of $4.25 billion, a PE ratio of -44.43 and a beta of 1.80.

Insider Buying and Selling at SiTime

In other SiTime news, CEO Rajesh Vashist sold 12,000 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $259.25, for a total transaction of $3,111,000.00. Following the transaction, the chief executive officer now owns 24,781 shares of the company’s stock, valued at $6,424,474.25. This represents a 32.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Fariborz Assaderaghi sold 1,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $249.42, for a total value of $249,420.00. Following the transaction, the insider now owns 101,683 shares in the company, valued at $25,361,773.86. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,571 shares of company stock valued at $4,917,939 over the last quarter. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SITM shares. Needham & Company LLC boosted their target price on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Raymond James reissued an “outperform” rating and issued a $250.00 price objective (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Roth Mkm upped their price objective on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays lifted their target price on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Finally, Stifel Nicolaus increased their price target on shares of SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.