Invesco Ltd. Boosts Stake in SiTime Co. (NASDAQ:SITM)

Invesco Ltd. lifted its stake in shares of SiTime Co. (NASDAQ:SITM) by 11.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 983,175 shares of the company’s stock after acquiring an additional 97,062 shares during the period. Invesco Ltd.’s holdings in SiTime were worth $210,921,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SITM. HighTower Advisors LLC lifted its stake in SiTime by 16.4% during the third quarter. HighTower Advisors LLC now owns 12,388 shares of the company’s stock worth $2,137,000 after purchasing an additional 1,748 shares during the last quarter. State Street Corp raised its holdings in shares of 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 buying an additional 27,692 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in SiTime in the 3rd quarter worth approximately $588,000. Public Employees Retirement System of Ohio boosted its stake in SiTime by 6.1% in the third quarter. Public Employees Retirement System of Ohio now owns 17,960 shares of the company’s stock worth $3,080,000 after buying an additional 1,039 shares in the last quarter. Finally, Barclays PLC grew its position in SiTime by 80.7% during the third 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. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,003 shares of the firm’s 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 completion of the transaction, the insider now owns 99,678 shares of the company’s stock, valued at $20,376,176.76. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the sale, the insider now directly owns 87,940 shares in the company, valued at $15,323,545. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,542 shares of company stock valued at $978,713 over the last quarter. 2.30% of the stock is owned by company insiders.

SiTime Stock Performance

NASDAQ SITM opened at $130.00 on Friday. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18. The stock has a market cap of $3.07 billion, a P/E ratio of -32.10 and a beta of 1.98. The stock has a 50 day simple moving average of $163.19 and a two-hundred day simple moving average of $193.41.

Analyst Upgrades and Downgrades

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

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.