Magnetar Financial LLC Acquires Shares of 947 SiTime Co. (NASDAQ:SITM)

Magnetar Financial LLC bought a new position in shares of SiTime Co. (NASDAQ:SITM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 947 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently modified their holdings of SITM. Mutual of America Capital Management LLC grew its holdings in SiTime by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company’s stock valued at $615,000 after purchasing an additional 48 shares during the period. State of Alaska Department of Revenue grew its stake in SiTime by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company’s stock valued at $2,307,000 after acquiring an additional 57 shares during the period. Blue Trust Inc. increased its holdings 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 acquiring an additional 67 shares in the last quarter. Thrivent Financial for Lutherans raised its position in SiTime by 0.6% during the third quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock worth $2,524,000 after acquiring an additional 94 shares during the period. Finally, Arizona State Retirement System lifted its holdings in SiTime by 1.9% during the fourth quarter. Arizona State Retirement System now owns 5,368 shares of the company’s stock valued at $1,152,000 after purchasing an additional 99 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, insider Fariborz Assaderaghi sold 1,003 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the transaction, the insider now owns 99,678 shares of the company’s stock, valued at approximately $20,376,176.76. The trade was a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $14,636,401.08. The trade was a 1.11 % 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 valued at $1,200,095. Insiders own 2.30% of the company’s stock.

SiTime Price Performance

Shares of SiTime stock opened at $178.26 on Monday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18. The stock has a market cap of $4.21 billion, a P/E ratio of -44.01 and a beta of 1.85. The stock’s 50 day simple moving average is $190.51 and its 200-day simple moving average is $194.35.

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.