Proficio Capital Partners LLC Buys Shares of 20,595 SiTime Co. (NASDAQ:SITM)

Proficio Capital Partners LLC bought a new stake in shares of SiTime Co. (NASDAQ:SITM) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 20,595 shares of the company’s stock, valued at approximately $4,418,000. Proficio Capital Partners LLC owned approximately 0.09% of SiTime at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after acquiring an additional 67 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of SiTime during the third quarter worth about $123,000. GAMMA Investing LLC grew its holdings in shares of SiTime by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 944 shares of the company’s stock worth $203,000 after buying an additional 201 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of SiTime during the third quarter worth about $166,000. Finally, Quantum Private Wealth LLC purchased a new stake in shares of SiTime during the fourth quarter worth about $209,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SITM shares. Roth Mkm lifted their price target on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Raymond James reiterated an “outperform” rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Needham & Company LLC lifted 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. Stifel Nicolaus lifted 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. Finally, Barclays lifted their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.00.

SiTime Stock Performance

SiTime stock opened at $152.42 on Wednesday. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $268.18. The firm has a 50 day moving average price of $204.97 and a 200 day moving average price of $191.67. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -37.63 and a beta of 1.80.

Insider Activity at SiTime

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction that occurred on 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. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the transaction, the insider now directly owns 99,678 shares in the company, valued at approximately $20,376,176.76. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,070 shares of company stock worth $5,310,704. 2.30% of the stock is owned by company insiders.

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.