William Blair Investment Management LLC Sells 23,710 Shares of SiTime Co. (NASDAQ:SITM)

William Blair Investment Management LLC decreased its position in shares of SiTime Co. (NASDAQ:SITM) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,605 shares of the company’s stock after selling 23,710 shares during the quarter. William Blair Investment Management LLC’s holdings in SiTime were worth $31,880,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SITM. Blue Trust Inc. raised its stake in SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after acquiring an additional 67 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after acquiring an additional 206 shares in the last quarter. AlphaQuest LLC raised its stake in SiTime by 8,460.0% during the fourth quarter. AlphaQuest LLC now owns 428 shares of the company’s stock worth $92,000 after acquiring an additional 423 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in SiTime during the fourth quarter worth about $140,000. Finally, Sanctuary Advisors LLC acquired a new position in SiTime during the third quarter worth about $166,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays boosted their target price on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Needham & Company LLC upped their price objective on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Raymond James reaffirmed an “outperform” rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Finally, Stifel Nicolaus upped 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. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

Insider Activity at SiTime

In related news, insider Piyush B. Sevalia sold 1,038 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 1,002 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total value of $221,381.88. Following the transaction, the insider now owns 100,681 shares in the company, valued at $22,244,460.14. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,544 shares of company stock worth $1,200,095 over the last ninety days. Insiders own 2.30% of the company’s stock.

SiTime Price Performance

Shares of SITM stock opened at $177.79 on Wednesday. The business’s 50 day simple moving average is $193.73 and its 200 day simple moving average is $193.49. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The stock has a market capitalization of $4.20 billion, a PE ratio of -43.90 and a beta of 1.85.

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.