Montanaro Asset Management Ltd Sells 145 Shares of SiTime Co. (NASDAQ:SITM)

Montanaro Asset Management Ltd lowered its stake in shares of SiTime Co. (NASDAQ:SITM) by 0.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 45,880 shares of the company’s stock after selling 145 shares during the period. SiTime comprises approximately 2.0% of Montanaro Asset Management Ltd’s investment portfolio, making the stock its 21st biggest holding. Montanaro Asset Management Ltd’s holdings in SiTime were worth $9,843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of SiTime by 1.1% during the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock valued at $595,113,000 after buying an additional 39,119 shares during the last quarter. Vanguard Group Inc. raised its position in SiTime by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company’s stock valued at $529,535,000 after buying an additional 52,310 shares during the last quarter. State Street Corp lifted its stake in SiTime by 3.1% during the 3rd quarter. State Street Corp now owns 922,974 shares of the company’s stock valued at $158,299,000 after acquiring an additional 27,692 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in SiTime by 15.4% during the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after acquiring an additional 59,931 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of SiTime by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock worth $75,637,000 after acquiring an additional 15,759 shares in the last quarter. 84.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Raymond James reissued an “outperform” rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Needham & Company LLC lifted their target price on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Barclays upped their target price on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Finally, Stifel Nicolaus lifted their price target on SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $232.00.

SiTime Stock Down 4.4 %

SITM opened at $178.11 on Thursday. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18. The company’s 50-day moving average price is $187.51 and its two-hundred day moving average price is $195.00. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of -43.98 and a beta of 1.85.

Insider Buying and Selling

In other SiTime news, insider Piyush B. Sevalia sold 1,038 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 92,847 shares of the company’s stock, valued at $14,636,401.08. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Lionel Bonnot sold 3,501 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the transaction, the insider now directly owns 87,940 shares in the company, valued at $15,323,545. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,544 shares of company stock valued at $1,200,095. 2.30% of the stock is owned by company 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.