Corebridge Financial Inc. Sells 655 Shares of SiTime Co. (NASDAQ:SITM)

Corebridge Financial Inc. cut its stake in SiTime Co. (NASDAQ:SITM) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,910 shares of the company’s stock after selling 655 shares during the quarter. Corebridge Financial Inc.’s holdings in SiTime were worth $2,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after buying an additional 67 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake 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 acquiring an additional 206 shares in the last quarter. AlphaQuest LLC grew its holdings in SiTime by 8,460.0% in the fourth quarter. AlphaQuest LLC now owns 428 shares of the company’s stock worth $92,000 after purchasing an additional 423 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of SiTime during the fourth quarter valued at approximately $130,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of SiTime during the fourth quarter valued at approximately $140,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

SITM has been the topic of several recent research reports. Needham & Company LLC upped 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. Raymond James reissued 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 raised their price target on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Barclays upped their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $232.00.

Insider Buying and Selling

In related news, insider Lionel Bonnot sold 3,501 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the sale, the insider now owns 87,940 shares in the company, valued at approximately $15,323,545. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 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 approximately $14,636,401.08. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,544 shares of company stock worth $1,200,095. 2.30% of the stock is owned by corporate insiders.

SiTime Trading Up 1.1 %

SiTime stock opened at $154.56 on Wednesday. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $268.18. The stock has a fifty day simple moving average of $180.06 and a two-hundred day simple moving average of $195.88. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -38.16 and a beta of 1.85.

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.