Bessemer Group Inc. Lowers Stock Holdings in SiTime Co. (NASDAQ:SITM)

Bessemer Group Inc. lowered its position in shares of SiTime Co. (NASDAQ:SITM) by 76.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 202 shares of the company’s stock after selling 644 shares during the period. Bessemer Group Inc.’s holdings in SiTime were worth $44,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC increased its holdings in shares of SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company’s stock worth $6,515,000 after purchasing an additional 16,964 shares during the period. Geode Capital Management LLC raised its holdings in shares of SiTime by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock valued at $75,637,000 after acquiring an additional 15,759 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of SiTime during the 3rd quarter valued at about $204,000. Sanctuary Advisors LLC purchased a new position in shares of SiTime during the third quarter worth about $166,000. Finally, Principal Financial Group Inc. increased 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 worth $76,996,000 after purchasing an additional 59,931 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SITM. Needham & Company LLC boosted their price target 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. Stifel Nicolaus reduced their target price on SiTime from $270.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays lifted their price target on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Finally, Raymond James reissued an “outperform” rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $214.00.

Insider Buying and Selling at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 1,038 shares of the company’s 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total value of $205,033.26. Following the completion of the sale, the insider now owns 99,678 shares in the company, valued at approximately $20,376,176.76. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,542 shares of company stock worth $978,713. 2.30% of the stock is currently owned by insiders.

SiTime Trading Down 0.2 %

NASDAQ SITM opened at $129.47 on Friday. The firm has a market cap of $3.06 billion, a PE ratio of -31.97 and a beta of 1.98. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18. The stock has a 50-day moving average of $158.86 and a 200-day moving average of $192.16.

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.