Pier Capital LLC Boosts Stock Position in SiTime Co. (NASDAQ:SITM)

Pier Capital LLC grew its holdings in shares of SiTime Co. (NASDAQ:SITM) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 44,140 shares of the company’s stock after acquiring an additional 1,010 shares during the period. SiTime accounts for 1.4% of Pier Capital LLC’s portfolio, making the stock its 21st biggest position. Pier Capital LLC’s holdings in SiTime were worth $9,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in SITM. Emerald Advisers LLC acquired a new stake in SiTime in the fourth quarter valued at $18,673,000. Principal Financial Group Inc. raised its stake in shares of SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after purchasing an additional 59,931 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of 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 during the last quarter. FMR LLC lifted its position in shares of SiTime by 1.1% during the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after purchasing an additional 39,119 shares during the last quarter. Finally, Peregrine Investment Management Inc. acquired a new position in SiTime in the fourth quarter worth about $7,779,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Trading Up 5.6 %

Shares of NASDAQ SITM opened at $188.29 on Tuesday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of -46.49 and a beta of 1.85. The stock’s 50 day simple moving average is $189.73 and its 200 day simple moving average is $194.73. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at SiTime

In related news, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction dated Monday, March 3rd. The shares were 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 trade represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $174.25, for a total transaction of $610,049.25. Following the transaction, the insider now directly owns 87,940 shares of the company’s stock, valued at $15,323,545. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,544 shares of company stock worth $1,200,095. 2.30% of the stock is owned by insiders.

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.