Kennedy Capital Management LLC Trims Stock Position in SiTime Co. (NASDAQ:SITM)

Kennedy Capital Management LLC trimmed its stake in shares of SiTime Co. (NASDAQ:SITM) by 1.4% in the fourth quarter, Holdings Channel reports. The fund owned 19,899 shares of the company’s stock after selling 274 shares during the period. Kennedy Capital Management LLC’s holdings in SiTime were worth $4,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Invesco Ltd. grew its position in SiTime by 11.0% in the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock valued at $210,921,000 after buying an additional 97,062 shares during the last quarter. Emerald Advisers LLC acquired a new stake in shares of SiTime in the 4th quarter worth $18,673,000. Federated Hermes Inc. purchased a new stake in shares of SiTime in the fourth quarter valued at about $15,446,000. Principal Financial Group Inc. increased its stake in shares of SiTime by 15.4% during the third 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 period. Finally, Vanguard Group Inc. raised its holdings in SiTime by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company’s stock worth $529,535,000 after purchasing an additional 52,310 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Buying and Selling at SiTime

In related news, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the completion of the transaction, the insider now directly owns 87,940 shares in the company, valued at $15,323,545. The trade was a 3.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Piyush B. Sevalia sold 1,038 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 in the company, valued at approximately $14,636,401.08. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,542 shares of company stock valued at $978,713. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

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

SiTime Price Performance

SITM opened at $130.00 on Friday. The stock’s 50 day simple moving average is $163.19 and its 200 day simple moving average is $193.41. The stock has a market cap of $3.07 billion, a P/E ratio of -32.10 and a beta of 1.98. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18.

SiTime Company Profile

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.