FourThought Financial LLC Increases Holdings in SiTime Co. (NASDAQ:SITM)

FourThought Financial LLC grew its holdings in shares of SiTime Co. (NASDAQ:SITM – Get Rating) by 34.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 658 shares of the company’s stock after purchasing an additional 168 shares during the quarter. FourThought Financial LLC’s holdings in SiTime were worth $52,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its stake in shares of SiTime by 6.1% during the 2nd quarter. FMR LLC now owns 2,290,823 shares of the company’s stock worth $373,473,000 after acquiring an additional 131,669 shares during the period. BlackRock Inc. grew its stake in shares of SiTime by 1.6% during the 3rd quarter. BlackRock Inc. now owns 1,730,179 shares of the company’s stock worth $136,216,000 after acquiring an additional 27,316 shares during the period. Vanguard Group Inc. grew its stake in shares of SiTime by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,520,870 shares of the company’s stock worth $119,738,000 after acquiring an additional 38,543 shares during the period. State Street Corp grew its stake in shares of SiTime by 30.1% during the 3rd quarter. State Street Corp now owns 808,383 shares of the company’s stock worth $63,644,000 after acquiring an additional 187,116 shares during the period. Finally, Trigran Investments Inc. grew its stake in shares of SiTime by 61.2% during the 3rd quarter. Trigran Investments Inc. now owns 690,841 shares of the company’s stock worth $54,391,000 after acquiring an additional 262,313 shares during the period. Institutional investors own 74.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays increased their price target on SiTime from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. TheStreet upgraded SiTime from a “d+” rating to a “c” rating in a research note on Monday, November 21st. Raymond James raised their target price on SiTime from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. Needham & Company LLC raised their target price on SiTime from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. Finally, Roth Capital raised their target price on SiTime from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 1st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SiTime currently has an average rating of “Buy” and an average target price of $140.00.

SiTime Trading Down 2.4 %

Shares of SITM opened at $131.12 on Friday. The company has a market cap of $2.85 billion, a PE ratio of 127.30 and a beta of 1.86. The stock has a 50-day moving average price of $121.60 and a 200-day moving average price of $103.64. SiTime Co. has a 12-month low of $73.10 and a 12-month high of $270.92.

Insider Activity

In other news, CFO Arthur D. Chadwick sold 24,948 shares of SiTime stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $130.79, for a total transaction of $3,262,948.92. Following the completion of the sale, the chief financial officer now owns 80,309 shares in the company, valued at approximately $10,503,614.11. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Vincent P. Pangrazio sold 701 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $105.04, for a total transaction of $73,633.04. Following the transaction, the insider now directly owns 85,397 shares of the company’s stock, valued at approximately $8,970,100.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Arthur D. Chadwick sold 24,948 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $130.79, for a total value of $3,262,948.92. Following the transaction, the chief financial officer now directly owns 80,309 shares in the company, valued at $10,503,614.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 352,708 shares of company stock worth $41,319,128. 1.16% of the stock is currently owned by insiders.

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.