6,261 Shares in SiTime Co. (NASDAQ:SITM) Purchased by Baird Financial Group Inc.

Baird Financial Group Inc. bought a new position in shares of SiTime Co. (NASDAQ:SITMGet Rating) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,261 shares of the company’s stock, valued at approximately $1,021,000.

Several other institutional investors have also recently made changes to their positions in SITM. Meeder Asset Management Inc. purchased a new position in SiTime during the 1st quarter valued at approximately $41,000. Nisa Investment Advisors LLC purchased a new position in SiTime during the 1st quarter valued at approximately $78,000. Covestor Ltd grew its holdings in SiTime by 14,500.0% during the 1st quarter. Covestor Ltd now owns 438 shares of the company’s stock valued at $109,000 after buying an additional 435 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in SiTime during the 1st quarter valued at approximately $129,000. Finally, KBC Group NV purchased a new position in SiTime during the 1st quarter valued at approximately $150,000. Hedge funds and other institutional investors own 72.84% of the company’s stock.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 468 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $113.00, for a total transaction of $52,884.00. Following the completion of the sale, the insider now directly owns 116,685 shares of the company’s stock, valued at approximately $13,185,405. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other SiTime news, insider Fariborz Assaderaghi sold 468 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $113.00, for a total transaction of $52,884.00. Following the transaction, the insider now directly owns 116,685 shares in the company, valued at approximately $13,185,405. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lionel Bonnot sold 1,159 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $100.00, for a total value of $115,900.00. Following the transaction, the insider now owns 103,351 shares in the company, valued at $10,335,100. The disclosure for this sale can be found here. In the last three months, insiders sold 2,026 shares of company stock valued at $203,497. Insiders own 1.16% of the company’s stock.

Analysts Set New Price Targets

SITM has been the subject of several research analyst reports. Raymond James cut their price target on SiTime from $240.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, November 3rd. Credit Suisse Group started coverage on SiTime in a research note on Tuesday, November 15th. They issued an “outperform” rating and a $135.00 price objective for the company. Needham & Company LLC lowered their price objective on SiTime from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, November 3rd. Finally, Barclays lowered their price objective on SiTime from $130.00 to $96.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. Four research analysts have rated the stock with a buy rating, According to MarketBeat, SiTime currently has a consensus rating of “Buy” and a consensus price target of $116.50.

SiTime Stock Performance

Shares of SITM stock opened at $105.12 on Friday. SiTime Co. has a 52-week low of $73.10 and a 52-week high of $341.77. The firm has a market capitalization of $2.25 billion, a P/E ratio of 52.56, a P/E/G ratio of 6.61 and a beta of 1.90. The stock has a 50 day moving average price of $87.67 and a 200 day moving average price of $136.62.

SiTime Profile

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SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

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Institutional Ownership by Quarter for SiTime (NASDAQ:SITM)

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