Amica Mutual Insurance Co. Lowers Stake in SiTime Co. (NASDAQ:SITM)

Amica Mutual Insurance Co. trimmed its position in shares of SiTime Co. (NASDAQ:SITM) by 36.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,836 shares of the company’s stock after selling 3,325 shares during the period. Amica Mutual Insurance Co.’s holdings in SiTime were worth $1,252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SITM. 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 purchasing an additional 94 shares during the period. Intech Investment Management LLC purchased a new position in shares of SiTime in the third quarter worth $716,000. Charles Schwab Investment Management Inc. boosted its position in shares of SiTime by 7.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock worth $28,440,000 after acquiring an additional 11,955 shares during the last quarter. Citigroup Inc. grew its stake in SiTime by 65.9% during the third quarter. Citigroup Inc. now owns 24,892 shares of the company’s stock valued at $4,269,000 after acquiring an additional 9,888 shares in the last quarter. Finally, Swedbank AB increased its holdings in SiTime by 21.7% in the 3rd quarter. Swedbank AB now owns 28,000 shares of the company’s stock valued at $4,802,000 after acquiring an additional 5,000 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

SiTime Price Performance

Shares of SITM stock opened at $178.11 on Thursday. The stock’s fifty day moving average price is $187.51 and its 200 day moving average price is $195.00. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -43.98 and a beta of 1.85.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,003 shares of SiTime 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 sale, the insider now directly owns 99,678 shares in the company, valued at approximately $20,376,176.76. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lionel Bonnot sold 3,501 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,544 shares of company stock worth $1,200,095. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Needham & Company LLC increased their price target on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Raymond James restated an “outperform” rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Stifel Nicolaus upped their price target on shares of SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Barclays boosted their target price on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $232.00.

SiTime Company 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.