SiTime Co. (NASDAQ:SITM) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its stake in SiTime Co. (NASDAQ:SITM – Get Rating) by 27.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,687 shares of the company’s stock after selling 3,669 shares during the quarter. Envestnet Asset Management Inc.’s holdings in SiTime were worth $984,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SITM. Two Sigma Investments LP boosted its position in SiTime by 16,539.2% during the third quarter. Two Sigma Investments LP now owns 299,506 shares of the company’s stock worth $23,580,000 after acquiring an additional 297,706 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in SiTime by 78.0% during the third quarter. Frontier Capital Management Co. LLC now owns 611,837 shares of the company’s stock worth $48,170,000 after acquiring an additional 268,063 shares during the last quarter. Trigran Investments Inc. boosted its position in SiTime by 61.2% during the third 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 last quarter. Renaissance Technologies LLC boosted its position in SiTime by 1,896.9% during the third quarter. Renaissance Technologies LLC now owns 255,600 shares of the company’s stock worth $20,123,000 after acquiring an additional 242,800 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in SiTime by 1,612.4% during the third quarter. Two Sigma Advisers LP now owns 207,200 shares of the company’s stock worth $16,313,000 after purchasing an additional 195,100 shares during the period. 74.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SiTime news, Director Torsten Kreindl sold 410 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $95.44, for a total transaction of $39,130.40. Following the completion of the transaction, the director now owns 15,891 shares in the company, valued at approximately $1,516,637.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Fariborz Assaderaghi sold 1,312 shares of the company’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $106.54, for a total value of $139,780.48. Following the completion of the transaction, the insider now owns 114,068 shares in the company, valued at approximately $12,152,804.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Torsten Kreindl sold 410 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $95.44, for a total transaction of $39,130.40. Following the completion of the transaction, the director now owns 15,891 shares of the company’s stock, valued at approximately $1,516,637.04. The disclosure for this sale can be found here. Insiders sold 345,187 shares of company stock worth $40,508,529 in the last 90 days. Corporate insiders own 1.16% of the company’s stock.

SiTime Stock Performance

Shares of SITM stock opened at $94.31 on Friday. The company has a 50 day moving average price of $113.63 and a 200 day moving average price of $112.52. SiTime Co. has a fifty-two week low of $73.10 and a fifty-two week high of $234.89.

Wall Street Analyst Weigh In

A number of brokerages have commented on SITM. Needham & Company LLC downgraded shares of SiTime from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Roth Capital boosted their price target on shares of SiTime from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 1st. Raymond James boosted their price target on shares of SiTime from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, February 2nd. Stifel Nicolaus reduced their price target on shares of SiTime from $140.00 to $126.00 in a research note on Thursday, May 4th. Finally, TheStreet downgraded shares of SiTime from a “c” rating to a “d+” rating in a research note on Wednesday, May 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $129.83.

SiTime Company 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.