SiTime Co. (NASDAQ:SITM) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its holdings in shares of SiTime Co. (NASDAQ:SITM) by 84.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,816 shares of the company’s stock after purchasing an additional 2,207 shares during the period. Hsbc Holdings PLC’s holdings in SiTime were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in shares of SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after buying an additional 67 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in SiTime during the fourth quarter valued at approximately $58,000. Smartleaf Asset Management LLC lifted its holdings in SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after acquiring an additional 206 shares during the period. AlphaQuest LLC boosted its position in SiTime by 8,460.0% in the 4th quarter. AlphaQuest LLC now owns 428 shares of the company’s stock worth $92,000 after purchasing an additional 423 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of SiTime during the 4th quarter worth approximately $130,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Stock Up 4.7 %

SITM stock opened at $163.82 on Friday. The stock has a market capitalization of $3.89 billion, a P/E ratio of -40.45 and a beta of 1.98. SiTime Co. has a 52 week low of $92.36 and a 52 week high of $268.18. The firm has a 50-day simple moving average of $152.47 and a 200-day simple moving average of $189.69.

Insiders Place Their Bets

In related news, 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 1,267 shares of the firm’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $147.80, for a total value of $187,262.60. Following the completion of the transaction, the insider now owns 113,584 shares in the company, valued at $16,787,715.20. The trade was a 1.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,809 shares of company stock worth $1,165,975. Corporate insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

SITM has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of SiTime from $270.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Raymond James reissued an “outperform” rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC upped their price target on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Barclays dropped their price objective on SiTime from $180.00 to $110.00 and set an “underweight” rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.00.

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.