Motley Fool Asset Management LLC Increases Stake in SiTime Co. (NASDAQ:SITM)

Motley Fool Asset Management LLC increased its holdings in SiTime Co. (NASDAQ:SITM) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,734 shares of the company’s stock after acquiring an additional 1,390 shares during the quarter. Motley Fool Asset Management LLC’s holdings in SiTime were worth $3,161,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of SiTime by 7.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock worth $28,440,000 after purchasing an additional 11,955 shares during the period. Citigroup Inc. raised its stake in SiTime by 65.9% in the third quarter. Citigroup Inc. now owns 24,892 shares of the company’s stock worth $4,269,000 after buying an additional 9,888 shares in the last quarter. HighTower Advisors LLC lifted its holdings in SiTime by 16.4% during the third quarter. HighTower Advisors LLC now owns 12,388 shares of the company’s stock worth $2,137,000 after buying an additional 1,748 shares during the period. Polymer Capital Management HK LTD bought a new stake in SiTime during the 3rd quarter valued at $1,104,000. Finally, State Street Corp increased its holdings in shares of 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. 84.31% of the stock is currently owned by institutional investors.

SiTime Stock Up 2.4 %

Shares of NASDAQ SITM opened at $158.26 on Thursday. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18. The firm has a market cap of $3.73 billion, a P/E ratio of -39.08 and a beta of 1.85. The business’s 50 day moving average price is $178.11 and its 200 day moving average price is $195.62.

Analyst Ratings Changes

SITM has been the topic of a number of recent research reports. Raymond James reaffirmed an “outperform” rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Needham & Company LLC increased their price target on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Barclays boosted their price target on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Finally, Stifel Nicolaus increased their price objective on shares of SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a research 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 stock. According to data from MarketBeat, SiTime currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

Insider Activity at SiTime

In other news, insider Piyush B. Sevalia sold 1,038 shares of the business’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 completion of the sale, the insider now owns 92,847 shares of the company’s stock, valued at $14,636,401.08. The trade was a 1.11 % 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 Fariborz Assaderaghi sold 1,003 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the transaction, the insider now directly owns 99,678 shares in the company, valued at $20,376,176.76. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,542 shares of company stock worth $978,713 over the last three months. Company insiders own 2.30% of the company’s stock.

SiTime Company 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.