Alberta Investment Management Corp Reduces Stake in SiTime Co. (NASDAQ:SITM)

Alberta Investment Management Corp trimmed its position in shares of SiTime Co. (NASDAQ:SITM) by 51.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,439 shares of the company’s stock after selling 4,793 shares during the quarter. Alberta Investment Management Corp’s holdings in SiTime were worth $952,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Barclays PLC grew its stake in SiTime by 80.7% in the 3rd quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after acquiring an additional 16,964 shares during the last quarter. LMR Partners LLP grew its position in shares of SiTime by 705.0% in the third quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after purchasing an additional 70,500 shares during the last quarter. Creative Planning purchased a new position in shares of SiTime during the 3rd quarter worth approximately $842,000. Baader Bank Aktiengesellschaft acquired a new position in shares of SiTime during the 4th quarter worth approximately $538,000. Finally, FMR LLC lifted its stake in SiTime by 1.1% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Trading Down 0.1 %

NASDAQ SITM opened at $179.93 on Friday. The company’s fifty day simple moving average is $216.24 and its 200-day simple moving average is $188.77. The stock has a market cap of $4.25 billion, a P/E ratio of -44.43 and a beta of 1.80. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18.

Insiders Place Their Bets

In other news, CEO Rajesh Vashist sold 12,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $259.25, for a total transaction of $3,111,000.00. Following the completion of the transaction, the chief executive officer now directly owns 24,781 shares in the company, valued at approximately $6,424,474.25. This represents a 32.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Raman Chitkara sold 500 shares of SiTime stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $265.00, for a total transaction of $132,500.00. Following the completion of the sale, the director now owns 20,719 shares of the company’s stock, valued at approximately $5,490,535. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,934 shares of company stock worth $4,996,438 in the last quarter. 2.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on SITM. Stifel Nicolaus increased their price objective on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Raymond James restated an “outperform” rating and issued a $250.00 price target (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Needham & Company LLC boosted their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Roth Mkm lifted their target price on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Barclays increased their price target on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $232.00.

SiTime 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.