Charles Schwab Investment Management Inc. Increases Position in SiTime Co. (NASDAQ:SITM)

Charles Schwab Investment Management Inc. lifted its holdings in SiTime Co. (NASDAQ:SITM) by 3.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 171,937 shares of the company’s stock after purchasing an additional 6,117 shares during the period. Charles Schwab Investment Management Inc.’s holdings in SiTime were worth $36,886,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. grew its stake in shares of SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after purchasing an additional 67 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after purchasing an additional 206 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of SiTime in the 4th quarter valued at approximately $140,000. Sanctuary Advisors LLC acquired a new position in shares of SiTime during the 3rd quarter worth $166,000. Finally, GAMMA Investing LLC lifted its position in shares of SiTime by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 944 shares of the company’s stock valued at $203,000 after acquiring an additional 201 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Stock Up 5.4 %

Shares of SITM opened at $167.03 on Friday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -41.24 and a beta of 1.85. The business’s 50 day moving average is $196.12 and its two-hundred day moving average is $192.71. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18.

Insiders Place Their Bets

In related 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 completion of the sale, the insider now owns 99,678 shares of the company’s stock, valued at $20,376,176.76. This represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was 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. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,544 shares of company stock valued at $1,200,095 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

SITM has been the topic of a number of research reports. Stifel Nicolaus increased 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. Raymond James restated an “outperform” rating and issued a $250.00 target price (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Needham & Company LLC increased their target price on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Barclays lifted their target price on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $232.00.

SiTime 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.