Wellington Management Group LLP Grows Position in SiTime Co. (NASDAQ:SITM)

Wellington Management Group LLP raised its position in SiTime Co. (NASDAQ:SITM) by 36.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 195,573 shares of the company’s stock after purchasing an additional 52,221 shares during the period. Wellington Management Group LLP’s holdings in SiTime were worth $41,956,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after buying an additional 67 shares during the period. Smartleaf Asset Management LLC grew its position in SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after acquiring an additional 206 shares during the last quarter. AlphaQuest LLC grew its position in SiTime by 8,460.0% in the 4th quarter. AlphaQuest LLC now owns 428 shares of the company’s stock valued at $92,000 after acquiring an additional 423 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in SiTime in the fourth quarter worth $130,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of SiTime during the fourth quarter worth $140,000. Institutional investors own 84.31% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the sale, the insider now owns 87,940 shares of the company’s stock, valued at approximately $15,323,545. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total value of $163,630.32. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,542 shares of company stock worth $978,713. Corporate insiders own 2.30% of the company’s stock.

SiTime Price Performance

Shares of SiTime stock opened at $119.23 on Friday. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $268.18. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -29.44 and a beta of 1.98. The firm’s 50-day moving average is $172.95 and its two-hundred day moving average is $195.24.

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.