Pier Capital LLC Raises Stock Holdings in SiTime Co. (NASDAQ:SITM)

Pier Capital LLC increased its stake in shares of SiTime Co. (NASDAQ:SITM) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,140 shares of the company’s stock after purchasing an additional 1,010 shares during the quarter. SiTime makes up approximately 1.4% of Pier Capital LLC’s holdings, making the stock its 21st largest holding. Pier Capital LLC owned 0.19% of SiTime worth $9,469,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC lifted its stake in shares of SiTime by 1.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company’s stock worth $615,000 after purchasing an additional 48 shares during the period. State of Alaska Department of Revenue lifted its position in SiTime by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company’s stock worth $2,307,000 after buying an additional 57 shares during the period. Blue Trust Inc. boosted its stake in SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after buying an additional 67 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in SiTime by 0.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock worth $2,524,000 after buying an additional 94 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in SiTime by 1.9% in the 4th quarter. Arizona State Retirement System now owns 5,368 shares of the company’s stock valued at $1,152,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Buying and Selling

In other news, insider Piyush B. Sevalia sold 1,038 shares of SiTime 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 trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the transaction, the insider now owns 99,678 shares of the company’s stock, valued at $20,376,176.76. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,544 shares of company stock valued at $1,200,095. Company insiders own 2.30% of the company’s stock.

SiTime Stock Up 5.6 %

SiTime stock opened at $188.29 on Tuesday. The firm has a fifty day moving average of $189.73 and a 200-day moving average of $194.73. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18. The firm has a market capitalization of $4.44 billion, a P/E ratio of -46.49 and a beta of 1.85.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SITM shares. Barclays increased their price objective on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Raymond James reiterated an “outperform” rating and issued a $250.00 price target (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Needham & Company LLC upped their price objective on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Stifel Nicolaus lifted their target price on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.