Counterpoint Mutual Funds LLC Takes Position in SiTime Co. (NASDAQ:SITM)

Counterpoint Mutual Funds LLC bought a new position in SiTime Co. (NASDAQ:SITM) during the 4th quarter, Holdings Channel reports. The fund bought 2,094 shares of the company’s stock, valued at approximately $449,000.

Other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its holdings in SiTime by 1.1% in the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after buying an additional 39,119 shares during the period. State Street Corp lifted its stake in SiTime by 3.1% in the third quarter. State Street Corp now owns 922,974 shares of the company’s stock worth $158,299,000 after acquiring an additional 27,692 shares during the period. Principal Financial Group Inc. boosted its holdings in SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after acquiring an additional 59,931 shares in the last quarter. Geode Capital Management LLC increased its position in SiTime by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock valued at $75,637,000 after purchasing an additional 15,759 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in SiTime by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,937 shares of the company’s stock valued at $36,886,000 after purchasing an additional 6,117 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insider Transactions at SiTime

In other news, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the sale, the insider now owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lionel Bonnot sold 3,501 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the completion of the transaction, the insider now owns 87,940 shares of the company’s stock, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,544 shares of company stock valued at $1,200,095. Insiders own 2.30% of the company’s stock.

SiTime Stock Up 2.1 %

SITM stock opened at $170.46 on Tuesday. The business has a 50 day moving average of $194.80 and a 200 day moving average of $193.26. The firm has a market cap of $4.02 billion, a PE ratio of -42.09 and a beta of 1.85. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Barclays lifted their price objective on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Raymond James reissued an “outperform” rating and issued a $250.00 target price (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Finally, Needham & Company LLC lifted their price target on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.00.

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.