D.A. Davidson & CO. Makes New Investment in SiTime Co. (NASDAQ:SITM)

D.A. Davidson & CO. acquired a new position in SiTime Co. (NASDAQ:SITM) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,710 shares of the company’s stock, valued at approximately $1,010,000.

A number of other large investors also recently modified their holdings of SITM. FMR LLC boosted its holdings in SiTime by 1.1% during the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after purchasing an additional 39,119 shares during the last quarter. State Street Corp lifted its position in shares of SiTime by 3.1% during the 3rd quarter. State Street Corp now owns 922,974 shares of the company’s stock worth $158,299,000 after buying an additional 27,692 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after buying an additional 59,931 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of SiTime by 3.7% in the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock valued at $75,637,000 after acquiring an additional 15,759 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of SiTime by 7.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock valued at $28,440,000 after acquiring an additional 11,955 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $249.42, for a total transaction of $249,420.00. Following the sale, the insider now owns 101,683 shares of the company’s stock, valued at approximately $25,361,773.86. This represents a 0.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rajesh Vashist sold 12,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $259.25, for a total value of $3,111,000.00. Following the completion of the transaction, the chief executive officer now owns 24,781 shares of the company’s stock, valued at approximately $6,424,474.25. This represents a 32.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,571 shares of company stock worth $4,917,939. 2.30% of the stock is owned by corporate insiders.

SiTime Stock Down 0.1 %

NASDAQ SITM opened at $179.93 on Monday. The company has a market cap of $4.25 billion, a PE ratio of -44.43 and a beta of 1.80. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18. The firm’s 50-day simple moving average is $214.79 and its two-hundred day simple moving average is $189.77.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SITM shares. Needham & Company LLC upped their price objective on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Raymond James restated an “outperform” rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Roth Mkm raised their price objective on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays boosted their target price on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Finally, Stifel Nicolaus raised their price target on shares of SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $232.00.

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.