Premier Fund Managers Ltd Has $1.78 Million Stock Holdings in SiTime Co. (NASDAQ:SITM)

Premier Fund Managers Ltd boosted its stake in shares of SiTime Co. (NASDAQ:SITM) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,253 shares of the company’s stock after purchasing an additional 1,018 shares during the quarter. Premier Fund Managers Ltd’s holdings in SiTime were worth $1,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in shares of SiTime by 44.7% during the 4th 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 boosted its holdings in shares of SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after acquiring an additional 206 shares during the period. AlphaQuest LLC boosted its holdings in shares of SiTime by 8,460.0% during the fourth quarter. AlphaQuest LLC now owns 428 shares of the company’s stock worth $92,000 after acquiring an additional 423 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of SiTime in the fourth quarter valued at approximately $130,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of SiTime during the fourth quarter worth approximately $140,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SiTime

In related news, insider Piyush B. Sevalia sold 1,038 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the sale, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Fariborz Assaderaghi sold 1,002 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total value of $221,381.88. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 6,544 shares of company stock valued at $1,200,095 in the last ninety days. 2.30% of the stock is currently owned by company insiders.

SiTime Stock Performance

Shares of NASDAQ SITM opened at $166.65 on Friday. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18. The stock’s fifty day moving average is $185.99 and its 200 day moving average is $194.81. The stock has a market capitalization of $3.93 billion, a P/E ratio of -41.15 and a beta of 1.85.

Analysts Set New Price Targets

Several analysts recently issued reports on SITM shares. Needham & Company LLC boosted their price target on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Stifel Nicolaus boosted their target price 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. Barclays raised their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Finally, Raymond James reissued an “outperform” rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $232.00.

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.