Premier Fund Managers Ltd Purchases 1,018 Shares of SiTime Co. (NASDAQ:SITM)

Premier Fund Managers Ltd increased its position in shares of SiTime Co. (NASDAQ:SITM) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,253 shares of the company’s stock after acquiring an additional 1,018 shares during the quarter. Premier Fund Managers Ltd’s holdings in SiTime were worth $1,778,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its position in shares of SiTime by 1.7% in 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 last quarter. State of Alaska Department of Revenue lifted its stake in SiTime by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company’s stock valued at $2,307,000 after buying an additional 57 shares during the period. Blue Trust Inc. lifted its stake in SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after buying an additional 67 shares during the period. Arizona State Retirement System boosted 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 worth $1,152,000 after buying an additional 99 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of SiTime by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 23,700 shares of the company’s stock worth $5,084,000 after buying an additional 100 shares during the period. Institutional investors own 84.31% of the company’s stock.

Insider Transactions at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 1,038 shares of the company’s stock in a transaction 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 directly owns 92,847 shares of the company’s stock, valued at approximately $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,002 shares of SiTime stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total transaction of $221,381.88. Following the completion of the transaction, the insider now directly owns 100,681 shares of the company’s stock, valued at approximately $22,244,460.14. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,544 shares of company stock valued at $1,200,095 over the last 90 days. 2.30% of the stock is owned by corporate insiders.

SiTime Stock Down 6.4 %

Shares of SITM stock opened at $166.65 on Friday. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18. The firm has a fifty day moving average of $185.99 and a 200-day moving average of $194.81. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of -41.15 and a beta of 1.85.

Analysts Set New Price Targets

Several research firms recently weighed in on SITM. Needham & Company LLC lifted their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Barclays lifted their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research 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 lifted their target price on SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, SiTime has an average rating of “Moderate Buy” and a consensus price target 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.