SiTime Co. (NASDAQ:SITM) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its holdings in shares of SiTime Co. (NASDAQ:SITM) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,400 shares of the company’s stock after acquiring an additional 600 shares during the period. Swiss National Bank’s holdings in SiTime were worth $7,809,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SITM. Blue Trust Inc. grew its position in SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after purchasing an additional 67 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after buying an additional 206 shares during the period. AlphaQuest LLC grew its holdings in shares of SiTime by 8,460.0% during the fourth quarter. AlphaQuest LLC now owns 428 shares of the company’s stock worth $92,000 after buying an additional 423 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in SiTime in the 4th quarter valued at about $140,000. Finally, PNC Financial Services Group Inc. raised its stake in SiTime by 15.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 877 shares of the company’s stock valued at $188,000 after acquiring an additional 118 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays lifted their target price on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Stifel Nicolaus boosted 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. Raymond James restated an “outperform” rating and issued a $250.00 target price (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Finally, Needham & Company LLC boosted 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. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.00.

SiTime Stock Performance

SiTime stock opened at $178.26 on Friday. The company has a market cap of $4.21 billion, a P/E ratio of -44.01 and a beta of 1.85. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The business has a fifty day moving average of $190.51 and a two-hundred day moving average of $193.94.

Insider Activity

In other SiTime news, insider Fariborz Assaderaghi sold 1,002 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total value of $221,381.88. Following the completion of the transaction, the insider now directly owns 100,681 shares of the company’s stock, valued at approximately $22,244,460.14. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of the business’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 directly owns 92,847 shares in the company, valued at $14,636,401.08. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,544 shares of company stock worth $1,200,095 in the last 90 days. 2.30% of the stock is currently owned by corporate 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.