F M Investments LLC Reduces Holdings in SiTime Co. (NASDAQ:SITM)

F M Investments LLC lowered its stake in shares of SiTime Co. (NASDAQ:SITM) by 62.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,533 shares of the company’s stock after selling 44,842 shares during the quarter. F M Investments LLC’s holdings in SiTime were worth $5,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of SiTime in the 4th quarter valued at approximately $7,312,000. Renaissance Technologies LLC bought a new stake in shares of SiTime during the 4th quarter valued at $2,446,000. Invesco Ltd. increased its stake in shares of SiTime by 11.0% during the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock valued at $210,921,000 after purchasing an additional 97,062 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of SiTime by 15.6% during the fourth quarter. Bank of Montreal Can now owns 2,135 shares of the company’s stock valued at $458,000 after acquiring an additional 288 shares in the last quarter. Finally, Polymer Capital Management HK LTD raised its position in shares of SiTime by 434.1% in the 4th quarter. Polymer Capital Management HK LTD now owns 34,386 shares of the company’s stock worth $7,377,000 after purchasing an additional 27,948 shares during the last quarter. 84.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

SiTime Stock Up 28.4 %

Shares of SiTime stock opened at $149.90 on Thursday. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of -37.01 and a beta of 1.98. The stock’s 50-day simple moving average is $166.37 and its 200-day simple moving average is $193.91. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18.

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 value of $163,630.32. Following the sale, 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 this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of the stock in a transaction on 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 owns 87,940 shares of the company’s stock, valued at $15,323,545. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,542 shares of company stock worth $978,713 in the last three months. 2.30% of the stock is owned by company insiders.

About SiTime

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.