SiTime Co. (NASDAQ:SITM) Shares Bought by Virtu Financial LLC

Virtu Financial LLC raised its position in SiTime Co. (NASDAQ:SITM) by 145.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,921 shares of the company’s stock after acquiring an additional 1,730 shares during the period. Virtu Financial LLC’s holdings in SiTime were worth $626,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its holdings 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 purchasing an additional 39,119 shares in the last quarter. State Street Corp lifted 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 buying an additional 27,692 shares during the period. Principal Financial Group Inc. boosted its stake in shares of SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after buying an additional 59,931 shares in the last quarter. Geode Capital Management LLC grew its holdings in SiTime by 3.7% during the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock worth $75,637,000 after acquiring an additional 15,759 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in SiTime by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 171,937 shares of the company’s stock worth $36,886,000 after acquiring an additional 6,117 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SITM. Raymond James restated an “outperform” rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Barclays boosted their price objective on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Needham & Company LLC increased their target price on shares of SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Stifel Nicolaus boosted their price target on SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $232.00.

SiTime Trading Down 1.1 %

Shares of NASDAQ SITM opened at $186.27 on Wednesday. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of -45.99 and a beta of 1.85. The company’s 50-day moving average price is $188.80 and its 200 day moving average price is $195.12. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18.

Insider Activity

In related news, insider Piyush B. Sevalia sold 1,038 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total value of $163,630.32. Following the sale, the insider now owns 92,847 shares of the company’s stock, valued at approximately $14,636,401.08. This represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,002 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total value of $221,381.88. Following the transaction, the insider now directly owns 100,681 shares of the company’s stock, valued at $22,244,460.14. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,544 shares of company stock worth $1,200,095 over the last ninety days. 2.30% of the stock is currently owned by 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.