Legal & General Group Plc Sells 1,229 Shares of SiTime Co. (NASDAQ:SITM)

Legal & General Group Plc reduced its position in shares of SiTime Co. (NASDAQ:SITM) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,864 shares of the company’s stock after selling 1,229 shares during the quarter. Legal & General Group Plc owned about 0.22% of SiTime worth $11,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after buying an additional 67 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of SiTime during the 4th quarter valued at $58,000. Smartleaf Asset Management LLC lifted its stake in shares of SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after purchasing an additional 206 shares during the period. AlphaQuest LLC lifted its stake in shares of SiTime by 8,460.0% in the 4th quarter. AlphaQuest LLC now owns 428 shares of the company’s stock valued at $92,000 after purchasing an additional 423 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of SiTime in the 4th quarter worth $130,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SiTime

In other news, insider Fariborz Assaderaghi sold 1,003 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $204.42, for a total value of $205,033.26. Following the sale, the insider now directly owns 99,678 shares in the company, valued at $20,376,176.76. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $157.64, for a total value of $163,630.32. Following the transaction, the insider now owns 92,847 shares of the company’s stock, valued at approximately $14,636,401.08. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,542 shares of company stock valued at $978,713. 2.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SITM has been the topic of several analyst reports. Stifel Nicolaus increased their target price on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC increased their price target on shares of SiTime from $225.00 to $250.00 and gave the company a “buy” rating 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 company an “underweight” rating in a report on Friday, January 17th. Finally, Raymond James reiterated an “outperform” rating and issued a $250.00 target price (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, SiTime currently has an average rating of “Moderate Buy” and a consensus target price of $232.00.

SiTime Stock Performance

Shares of SITM opened at $129.78 on Thursday. The stock has a 50 day simple moving average of $159.71 and a 200 day simple moving average of $192.44. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18. The firm has a market capitalization of $3.06 billion, a PE ratio of -32.04 and a beta of 1.98.

SiTime 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.