Assetmark Inc. Decreases Holdings in SiTime Co. (NASDAQ:SITM)

Assetmark Inc. trimmed its stake in shares of SiTime Co. (NASDAQ:SITM – Get Rating) by 84.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 440 shares of the company’s stock after selling 2,354 shares during the period. Assetmark Inc.’s holdings in SiTime were worth $45,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in SiTime by 14,500.0% during the first quarter. Covestor Ltd now owns 438 shares of the company’s stock valued at $109,000 after purchasing an additional 435 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in SiTime during the first quarter valued at $129,000. FourThought Financial LLC raised its position in shares of SiTime by 34.3% in the third quarter. FourThought Financial LLC now owns 658 shares of the company’s stock valued at $52,000 after buying an additional 168 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of SiTime by 48.6% in the first quarter. Advisors Asset Management Inc. now owns 743 shares of the company’s stock valued at $184,000 after buying an additional 243 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of SiTime by 8.1% in the first quarter. Mackenzie Financial Corp now owns 811 shares of the company’s stock valued at $201,000 after buying an additional 61 shares during the last quarter. 74.96% of the stock is owned by hedge funds and other institutional investors.

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SiTime Stock Performance

SiTime stock opened at $101.92 on Friday. SiTime Co. has a 12-month low of $73.10 and a 12-month high of $234.89. The company has a 50-day moving average price of $109.71 and a 200 day moving average price of $112.68.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Needham & Company LLC cut shares of SiTime from a “buy” rating to a “hold” rating in a research report on Thursday, May 4th. Stifel Nicolaus reduced their target price on shares of SiTime from $140.00 to $126.00 in a research report on Thursday, May 4th. Barclays cut shares of SiTime from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $135.00 to $88.00 in a research report on Friday, May 5th. Finally, TheStreet cut shares of SiTime from a “c” rating to a “d+” rating in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.83.

Insider Buying and Selling

In related news, major shareholder Corp /Fi Megachips sold 300,000 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $115.50, for a total transaction of $34,650,000.00. Following the completion of the sale, the insider now directly owns 4,700,000 shares in the company, valued at $542,850,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other SiTime news, major shareholder Corp /Fi Megachips sold 300,000 shares of the stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $115.50, for a total transaction of $34,650,000.00. Following the completion of the transaction, the insider now owns 4,700,000 shares of the company’s stock, valued at $542,850,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Raman Chitkara sold 948 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $135.00, for a total transaction of $127,980.00. Following the transaction, the director now directly owns 20,368 shares of the company’s stock, valued at approximately $2,749,680. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,839 shares of company stock worth $36,373,148. Insiders own 1.16% of the company’s stock.

SiTime Profile

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SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

Further Reading

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