D.A. Davidson & CO. Takes Position in SiTime Co. (NASDAQ:SITM)

D.A. Davidson & CO. bought a new position in SiTime Co. (NASDAQ:SITM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 4,710 shares of the company’s stock, valued at approximately $1,010,000.

Other hedge funds have also added to or reduced their stakes in the company. LMR Partners LLP increased its holdings in shares of SiTime by 705.0% in the third quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after buying an additional 70,500 shares during the period. Principal Financial Group Inc. grew its position in SiTime by 15.4% during the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after acquiring an additional 59,931 shares during the last quarter. FMR LLC grew its position in SiTime by 1.1% during the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after acquiring an additional 39,119 shares during the last quarter. Peregrine Investment Management Inc. purchased a new position in SiTime in the 4th quarter worth approximately $7,779,000. Finally, State Street Corp lifted its position in SiTime by 3.1% in the third quarter. State Street Corp now owns 922,974 shares of the company’s stock valued at $158,299,000 after purchasing an additional 27,692 shares during the last quarter. 84.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SiTime news, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total value of $205,033.26. Following the completion of the transaction, the insider now owns 99,678 shares in the company, valued at approximately $20,376,176.76. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vincent P. Pangrazio sold 3,064 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $255.00, for a total transaction of $781,320.00. Following the sale, the insider now owns 65,978 shares in the company, valued at approximately $16,824,390. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,571 shares of company stock valued at $4,917,939 over the last three months. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Roth Mkm raised their target price 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 reissued an “outperform” rating and issued a $250.00 price target (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Stifel Nicolaus upped their price objective 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. Barclays raised their target price on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Finally, Needham & Company LLC boosted their price target on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

SiTime Trading Down 0.1 %

Shares of NASDAQ SITM opened at $179.93 on Monday. The firm has a fifty day simple moving average of $214.79 and a two-hundred day simple moving average of $189.77. The firm has a market capitalization of $4.25 billion, a PE ratio of -44.43 and a beta of 1.80. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $268.18.

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.