Cibc World Markets Corp Purchases Shares of 1,739 SiTime Co. (NASDAQ:SITM)

Cibc World Markets Corp purchased a new position in shares of SiTime Co. (NASDAQ:SITM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,739 shares of the company’s stock, valued at approximately $373,000.

A number of other hedge funds have also recently made changes to their positions in the business. Atria Investments Inc bought a new stake in SiTime in the third quarter worth $228,000. Thrivent Financial for Lutherans increased its holdings in shares of SiTime by 0.6% in the third 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 period. Intech Investment Management LLC bought a new stake in shares of SiTime in the 3rd quarter valued at about $716,000. Charles Schwab Investment Management Inc. boosted its holdings in SiTime by 7.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock valued at $28,440,000 after acquiring an additional 11,955 shares during the period. Finally, Citigroup Inc. grew its position in SiTime by 65.9% during the 3rd quarter. Citigroup Inc. now owns 24,892 shares of the company’s stock worth $4,269,000 after acquiring an additional 9,888 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

SiTime Stock Up 0.6 %

Shares of SITM stock opened at $178.26 on Monday. The stock has a fifty day moving average of $190.51 and a 200 day moving average of $194.35. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of -44.01 and a beta of 1.85. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SITM. Needham & Company LLC increased their price objective on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Barclays upped their price target on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Raymond James restated an “outperform” rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Finally, Stifel Nicolaus upped their price objective on shares of 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $232.00.

Insiders Place Their Bets

In other news, insider Fariborz Assaderaghi sold 1,002 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total value of $221,381.88. Following the completion of the transaction, the insider now owns 100,681 shares of the company’s stock, valued at approximately $22,244,460.14. This represents a 0.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $163,630.32. Following the sale, the insider now owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,544 shares of company stock worth $1,200,095 over the last three months. Company insiders own 2.30% of the company’s stock.

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.