Mitsubishi UFJ Asset Management Co. Ltd. Has $8.69 Million Stake in SiTime Co. (NASDAQ:SITM)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of SiTime Co. (NASDAQ:SITM) by 8.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,100 shares of the company’s stock after buying an additional 3,017 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of SiTime worth $8,694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mutual of America Capital Management LLC increased its stake in SiTime by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company’s stock valued at $615,000 after purchasing an additional 48 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of SiTime by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company’s stock valued at $2,307,000 after buying an additional 57 shares during the period. Blue Trust Inc. increased its position in shares of SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after buying an additional 67 shares in the last quarter. Arizona State Retirement System raised its stake in SiTime by 1.9% during the 4th quarter. Arizona State Retirement System now owns 5,368 shares of the company’s stock worth $1,152,000 after buying an additional 99 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in SiTime by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 23,700 shares of the company’s stock worth $5,084,000 after acquiring an additional 100 shares in the last quarter. 84.31% of the stock is owned by institutional investors.

Insider Activity at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,002 shares of the firm’s 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 completion of the transaction, the insider now directly owns 100,681 shares in the company, valued at $22,244,460.14. This trade represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the business’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 transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,544 shares of company stock valued at $1,200,095. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SITM. Stifel Nicolaus raised their price target on SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Barclays raised their target price 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 reiterated an “outperform” rating and issued a $250.00 price target (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Finally, Needham & Company LLC raised their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $232.00.

SiTime Stock Up 0.3 %

Shares of SITM opened at $152.87 on Tuesday. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18. The stock has a market capitalization of $3.61 billion, a P/E ratio of -37.75 and a beta of 1.85. The company has a 50 day moving average of $182.06 and a 200-day moving average of $195.83.

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.