Thrivent Financial for Lutherans Reduces Holdings in SiTime Co. (NASDAQ:SITM)

Thrivent Financial for Lutherans lowered its stake in SiTime Co. (NASDAQ:SITM) by 0.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,627 shares of the company’s stock after selling 87 shares during the period. Thrivent Financial for Lutherans’ holdings in SiTime were worth $3,138,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after acquiring an additional 59,931 shares in the last quarter. FMR LLC boosted its stake in shares of SiTime by 1.1% during the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after purchasing an additional 39,119 shares during the last quarter. Peregrine Investment Management Inc. acquired a new stake in shares of SiTime during the 4th quarter worth about $7,779,000. Raymond James Financial Inc. purchased a new stake in shares of SiTime during the fourth quarter worth about $7,312,000. Finally, State Street Corp raised its position in shares of SiTime by 3.1% in the third quarter. State Street Corp now owns 922,974 shares of the company’s stock valued at $158,299,000 after buying an additional 27,692 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Trading Down 4.4 %

SITM stock opened at $178.11 on Thursday. The stock has a 50-day moving average price of $187.51 and a two-hundred day moving average price of $195.00. The company has a market cap of $4.20 billion, a PE ratio of -43.98 and a beta of 1.85. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18.

Insider Transactions at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,002 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 100,681 shares in the company, valued at $22,244,460.14. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the sale, the insider now directly owns 92,847 shares of the company’s stock, valued at $14,636,401.08. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,544 shares of company stock worth $1,200,095. 2.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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