Daiwa Securities Group Inc. grew its stake in SiTime Corporation (NASDAQ:SITM – Free Report) by 325.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,838 shares of the company’s stock after purchasing an additional 35,824 shares during the period. Daiwa Securities Group Inc.’s holdings in SiTime were worth $16,543,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. boosted its stake in shares of SiTime by 188.5% in the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Optiver Holding B.V. boosted its stake in shares of SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after purchasing an additional 32 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of SiTime by 3,200.0% in the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 96 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in shares of SiTime in the 4th quarter valued at approximately $35,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.
SiTime Price Performance
NASDAQ:SITM opened at $625.68 on Friday. The firm’s 50 day simple moving average is $582.71 and its 200 day simple moving average is $436.70. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81. The company has a market cap of $16.52 billion, a PE ratio of -619.49 and a beta of 2.94.
Insider Buying and Selling at SiTime
In related news, Director Christine Heckart sold 1,290 shares of SiTime stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total transaction of $903,000.00. Following the sale, the director directly owned 790 shares in the company, valued at $553,000. This trade represents a 62.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rajesh Vashist sold 10,000 shares of SiTime stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $701.13, for a total transaction of $7,011,300.00. Following the sale, the chief executive officer owned 14,781 shares in the company, valued at approximately $10,363,402.53. This represents a 40.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,624 shares of company stock worth $35,942,053 over the last quarter. Insiders own 1.40% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on SITM shares. The Goldman Sachs Group restated a “buy” rating and issued a $800.00 price target on shares of SiTime in a research note on Thursday, May 7th. Stifel Nicolaus raised their price target on shares of SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. UBS Group raised their price target on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Roth Mkm reiterated a “buy” rating and set a $900.00 target price on shares of SiTime in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $661.88.
View Our Latest Stock Analysis on SiTime
SiTime Company Profile
SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.
The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.
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