607 Shares in SiTime Co. (NASDAQ:SITM) Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd 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 607 shares of the company’s stock, valued at approximately $130,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Xponance Inc. lifted its stake in shares of SiTime by 10.3% in the fourth quarter. Xponance Inc. now owns 1,324 shares of the company’s stock worth $284,000 after buying an additional 124 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in SiTime during the fourth quarter valued at approximately $449,000. Cibc World Markets Corp purchased a new stake in SiTime in the fourth quarter worth approximately $373,000. Royce & Associates LP boosted its holdings in SiTime by 137.6% in the fourth quarter. Royce & Associates LP now owns 20,606 shares of the company’s stock worth $4,421,000 after purchasing an additional 11,934 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC boosted its holdings in SiTime by 42.9% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 10,000 shares of the company’s stock worth $2,145,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Price Performance

Shares of SITM stock opened at $178.26 on Friday. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of -44.01 and a beta of 1.85. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The company’s fifty day moving average price is $190.51 and its 200-day moving average price is $193.94.

Wall Street Analyst Weigh In

SITM has been the topic of several research reports. Stifel Nicolaus raised their target price on shares of SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC increased their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Raymond James reiterated an “outperform” rating and issued a $250.00 price target (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Finally, Barclays increased 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. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $232.00.

Insider Activity

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the sale, the insider now directly owns 87,940 shares in the company, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,002 shares of SiTime stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total transaction of $221,381.88. Following the completion of the sale, the insider now owns 100,681 shares in the company, valued at approximately $22,244,460.14. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,544 shares of company stock worth $1,200,095 in the last three months. Company insiders own 2.30% of the company’s stock.

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.