SiTime Co. (NASDAQ:SITM) Shares Acquired by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC increased its position in shares of SiTime Co. (NASDAQ:SITM) by 278.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 280 shares of the company’s stock after buying an additional 206 shares during the quarter. Smartleaf Asset Management LLC’s holdings in SiTime were worth $60,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after buying an additional 67 shares during the last quarter. Van ECK Associates Corp purchased a new position in SiTime during the 3rd quarter worth approximately $123,000. 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. Sanctuary Advisors LLC purchased a new position in SiTime during the 3rd quarter worth approximately $166,000. Finally, Quantum Private Wealth LLC purchased a new position in SiTime during the 4th quarter worth approximately $209,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at SiTime

In related news, insider Vincent P. Pangrazio sold 3,064 shares of SiTime stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $255.00, for a total value of $781,320.00. Following the sale, the insider now directly owns 65,978 shares in the company, valued at $16,824,390. The trade was a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Rajesh Vashist sold 12,000 shares of SiTime stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $259.25, for a total value of $3,111,000.00. Following the completion of the sale, the chief executive officer now owns 24,781 shares in the company, valued at approximately $6,424,474.25. This trade represents a 32.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,108 shares of company stock worth $5,224,915 over the last three months. 2.30% of the stock is currently owned by corporate insiders.

SiTime Price Performance

SiTime stock opened at $150.28 on Tuesday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18. The company has a market cap of $3.55 billion, a PE ratio of -37.11 and a beta of 1.85. The stock’s 50 day moving average price is $200.89 and its 200 day moving average price is $192.55.

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.