Harvest Fund Management Co. Ltd Makes New Investment in SiTime Co. (NASDAQ:SITM)

Harvest Fund Management Co. Ltd acquired a new position in SiTime Co. (NASDAQ:SITM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 607 shares of the company’s stock, valued at approximately $130,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SITM. Principal Financial Group Inc. grew its stake in shares of SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after buying an additional 59,931 shares in the last quarter. FMR LLC boosted its stake in shares of 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 purchasing an additional 39,119 shares during the period. Peregrine Investment Management Inc. purchased a new position in shares of SiTime during the 4th quarter worth about $7,779,000. Raymond James Financial Inc. purchased a new position in shares of SiTime during the 4th quarter worth about $7,312,000. Finally, State Street Corp boosted its stake in shares of SiTime by 3.1% during the 3rd quarter. State Street Corp now owns 922,974 shares of the company’s stock worth $158,299,000 after purchasing an additional 27,692 shares during the period. 84.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SiTime

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 1,002 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total transaction of $221,381.88. Following the completion of the sale, the insider now owns 100,681 shares of the company’s stock, valued at approximately $22,244,460.14. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,544 shares of company stock valued at $1,200,095 in the last three months. Company insiders own 2.30% of the company’s stock.

SiTime Price Performance

SiTime stock opened at $178.26 on Friday. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of -44.01 and a beta of 1.85. 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 of $190.51 and a two-hundred day moving average of $193.94.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Barclays lifted their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. 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 research note 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 research note on Thursday, February 6th. Finally, Raymond James reaffirmed an “outperform” rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a research note 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 stock. According to MarketBeat, SiTime has an average rating of “Moderate Buy” and a consensus price target of $232.00.

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.