Virtu Financial LLC Grows Stock Holdings in SiTime Co. (NASDAQ:SITM)

Virtu Financial LLC grew its holdings in shares of SiTime Co. (NASDAQ:SITM) by 145.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,921 shares of the company’s stock after purchasing an additional 1,730 shares during the quarter. Virtu Financial LLC’s holdings in SiTime were worth $626,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SITM. Barclays PLC grew its holdings in SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after purchasing an additional 16,964 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after buying an additional 206 shares during the period. Baader Bank Aktiengesellschaft acquired a new stake in shares of SiTime during the 4th quarter worth $538,000. FMR LLC raised its position in shares of SiTime by 1.1% in the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after buying an additional 39,119 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in SiTime in the fourth quarter valued at $4,418,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Raymond James restated an “outperform” rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Stifel Nicolaus increased their target price on shares of SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Barclays raised 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. Finally, Needham & Company LLC boosted 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. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

Insider Buying and Selling

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the business’s stock in a transaction 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 transaction, the insider now owns 87,940 shares in the company, valued at $15,323,545. The trade was a 3.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of the firm’s stock in a transaction dated 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 of the company’s stock, 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. In the last ninety days, insiders have sold 6,544 shares of company stock valued at $1,200,095. Corporate insiders own 2.30% of the company’s stock.

SiTime Price Performance

Shares of NASDAQ SITM opened at $186.27 on Wednesday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of -45.99 and a beta of 1.85. The business has a 50-day moving average of $188.80 and a 200-day moving average of $195.12.

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.