36,260 Shares in SiTime Co. (NASDAQ:SITM) Purchased by Peregrine Investment Management Inc.

Peregrine Investment Management Inc. acquired a new position in shares of SiTime Co. (NASDAQ:SITM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,260 shares of the company’s stock, valued at approximately $7,779,000. SiTime makes up about 4.5% of Peregrine Investment Management Inc.’s portfolio, making the stock its 11th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC boosted its position in shares of SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Blue Trust Inc. boosted its holdings in SiTime by 44.7% in 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. Van ECK Associates Corp purchased a new stake in shares of SiTime in the third quarter worth $123,000. Sanctuary Advisors LLC bought a new position in shares of SiTime during the third quarter valued at $166,000. Finally, GAMMA Investing LLC raised its position in shares of SiTime by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 944 shares of the company’s stock worth $203,000 after purchasing an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insider Activity

In other news, insider Fariborz Assaderaghi sold 1,003 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the sale, the insider now owns 99,678 shares of the company’s stock, valued at $20,376,176.76. This represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Raman Chitkara sold 500 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $265.00, for a total transaction of $132,500.00. Following the sale, the director now owns 20,719 shares of the company’s stock, valued at $5,490,535. This trade represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,934 shares of company stock valued at $5,206,598 in the last ninety days. 2.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on SITM. Roth Mkm increased their price objective on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus raised their price target on shares of SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Raymond James restated an “outperform” rating and issued a $250.00 price objective (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Needham & Company LLC increased their target price on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays boosted their price target on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $232.00.

SiTime Trading Up 4.6 %

Shares of SITM stock opened at $177.41 on Friday. The stock has a market capitalization of $4.14 billion, a P/E ratio of -43.80 and a beta of 1.80. The firm’s 50 day moving average is $222.19 and its 200 day moving average is $187.75. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18.

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.