Magnetar Financial LLC Makes New Investment in SiTime Co. (NASDAQ:SITM)

Magnetar Financial LLC purchased a new stake in shares of SiTime Co. (NASDAQ:SITM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 947 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SITM. Barclays PLC increased its holdings 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 purchasing an additional 16,964 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of 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 buying an additional 206 shares during the period. Baader Bank Aktiengesellschaft acquired a new stake in shares of SiTime in the fourth quarter valued at $538,000. FMR LLC raised its holdings in shares of 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 during the period. Finally, Proficio Capital Partners LLC acquired a new position in SiTime during the 4th quarter worth about $4,418,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Stock Performance

SITM stock opened at $178.26 on Monday. The company’s 50 day moving average price is $190.51 and its 200 day moving average price is $194.35. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of -44.01 and a beta of 1.85. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, insider Piyush B. Sevalia sold 1,038 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the transaction, the insider now owns 92,847 shares in the company, valued at approximately $14,636,401.08. The trade was a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lionel Bonnot sold 3,501 shares of the firm’s stock in a transaction 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 sale, the insider now owns 87,940 shares in the company, valued at approximately $15,323,545. This represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,544 shares of company stock worth $1,200,095 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.

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.