William Blair Investment Management LLC Has $31.88 Million Stake in SiTime Co. (NASDAQ:SITM)

William Blair Investment Management LLC trimmed its position in shares of SiTime Co. (NASDAQ:SITM) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,605 shares of the company’s stock after selling 23,710 shares during the period. William Blair Investment Management LLC owned 0.64% of SiTime worth $31,880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC acquired a new position in SiTime during the fourth quarter worth $449,000. Cibc World Markets Corp acquired a new position in SiTime during the fourth quarter worth $373,000. Royce & Associates LP increased its holdings in SiTime by 137.6% during the fourth quarter. Royce & Associates LP now owns 20,606 shares of the company’s stock worth $4,421,000 after buying an additional 11,934 shares during the last quarter. Alpine Woods Capital Investors LLC increased its holdings in SiTime by 42.9% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 10,000 shares of the company’s stock worth $2,145,000 after buying an additional 3,000 shares during the last quarter. Finally, Swiss National Bank increased its holdings in SiTime by 1.7% during the fourth quarter. Swiss National Bank now owns 36,400 shares of the company’s stock worth $7,809,000 after buying an additional 600 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Piyush B. Sevalia sold 1,038 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Fariborz Assaderaghi sold 1,002 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total transaction of $221,381.88. Following the sale, the insider now directly owns 100,681 shares of the company’s stock, valued at $22,244,460.14. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,544 shares of company stock valued at $1,200,095. 2.30% of the stock is owned by company insiders.

SiTime Stock Performance

Shares of SiTime stock opened at $177.79 on Wednesday. The firm has a 50-day moving average of $193.73 and a 200-day moving average of $193.49. The stock has a market cap of $4.20 billion, a PE ratio of -43.90 and a beta of 1.85. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Needham & Company LLC lifted their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Stifel Nicolaus lifted their price objective 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 lifted their price objective on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Finally, Raymond James reaffirmed an “outperform” rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $232.00.

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.