Quadrant Capital Group LLC increased its holdings in shares of SiTime Co. (NASDAQ:SITM – Get Rating) by 308.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 388 shares of the company’s stock after purchasing an additional 293 shares during the quarter. Quadrant Capital Group LLC’s holdings in SiTime were worth $39,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC increased its position in SiTime by 1,896.9% during the third quarter. Renaissance Technologies LLC now owns 255,600 shares of the company’s stock worth $20,123,000 after buying an additional 242,800 shares during the period. K.J. Harrison & Partners Inc acquired a new stake in SiTime in the 4th quarter valued at about $275,268,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of SiTime by 27.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,305 shares of the company’s stock worth $234,000 after purchasing an additional 502 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of SiTime by 295.9% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 12,321 shares of the company’s stock worth $970,000 after purchasing an additional 9,209 shares during the last quarter. Finally, Calamos Advisors LLC purchased a new stake in shares of SiTime in the fourth quarter valued at $1,204,000. Hedge funds and other institutional investors own 74.96% of the company’s stock.
SiTime Stock Performance
SITM stock opened at $109.59 on Friday. The firm has a 50 day simple moving average of $107.48 and a 200 day simple moving average of $112.72. SiTime Co. has a 52 week low of $73.10 and a 52 week high of $220.70.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. Needham & Company LLC downgraded SiTime from a “buy” rating to a “hold” rating in a research report on Thursday, May 4th. TheStreet cut SiTime from a “c” rating to a “d+” rating in a research note on Wednesday, May 3rd. Stifel Nicolaus lowered their price objective on shares of SiTime from $140.00 to $126.00 in a research report on Thursday, May 4th. Finally, Barclays downgraded SiTime from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $135.00 to $88.00 in a research note on Friday, May 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $129.83.
Insider Transactions at SiTime
In other news, insider Vincent P. Pangrazio sold 3,601 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $141.08, for a total transaction of $508,029.08. Following the completion of the transaction, the insider now directly owns 87,203 shares in the company, valued at $12,302,599.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other SiTime news, insider Vincent P. Pangrazio sold 3,601 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $141.08, for a total transaction of $508,029.08. Following the completion of the transaction, the insider now owns 87,203 shares in the company, valued at $12,302,599.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Corp /Fi Megachips sold 300,000 shares of SiTime 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 transaction, the insider now directly owns 4,700,000 shares of the company’s stock, valued at $542,850,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 312,990 shares of company stock worth $36,225,176. 1.16% of the stock is owned by corporate insiders.
SiTime Company Profile
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.
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