Mitsubishi UFJ Asset Management Co. Ltd. Acquires 3,017 Shares of SiTime Co. (NASDAQ:SITM)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of SiTime Co. (NASDAQ:SITM) by 8.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,100 shares of the company’s stock after acquiring an additional 3,017 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in SiTime were worth $8,694,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of SiTime by 7.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock valued at $28,440,000 after purchasing an additional 11,955 shares during the last quarter. Citigroup Inc. grew its stake in SiTime by 65.9% in the 3rd quarter. Citigroup Inc. now owns 24,892 shares of the company’s stock valued at $4,269,000 after buying an additional 9,888 shares during the last quarter. HighTower Advisors LLC grew its stake in SiTime by 16.4% in the 3rd quarter. HighTower Advisors LLC now owns 12,388 shares of the company’s stock valued at $2,137,000 after buying an additional 1,748 shares during the last quarter. Needham Investment Management LLC raised its holdings in SiTime by 2.1% in the 3rd quarter. Needham Investment Management LLC now owns 48,000 shares of the company’s stock valued at $8,232,000 after acquiring an additional 1,000 shares during the period. Finally, Polymer Capital Management HK LTD acquired a new stake in SiTime during the third quarter worth approximately $1,104,000. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Stock Performance

NASDAQ:SITM opened at $152.87 on Tuesday. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -37.75 and a beta of 1.85. The stock has a fifty day moving average price of $182.06 and a 200-day moving average price of $195.83.

Insider Buying and Selling

In other news, insider Lionel Bonnot sold 3,501 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 87,940 shares in the company, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total transaction of $205,033.26. Following the sale, the insider now owns 99,678 shares in the company, valued at $20,376,176.76. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,544 shares of company stock valued at $1,200,095 over the last quarter. 2.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.