S Squared Technology LLC Sells 51,000 Shares of SiTime Co. (NASDAQ:SITM)

S Squared Technology LLC reduced its stake in SiTime Co. (NASDAQ:SITM) by 53.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,588 shares of the company’s stock after selling 51,000 shares during the quarter. SiTime comprises 4.0% of S Squared Technology LLC’s holdings, making the stock its 9th largest position. S Squared Technology LLC owned 0.19% of SiTime worth $9,565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SITM. Mutual of America Capital Management LLC raised its position in shares of SiTime by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company’s stock valued at $615,000 after buying an additional 48 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of SiTime by 0.5% during the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company’s stock valued at $2,307,000 after acquiring an additional 57 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after purchasing an additional 67 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in SiTime by 4.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company’s stock worth $417,000 after acquiring an additional 83 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of SiTime by 1.9% in the fourth quarter. Arizona State Retirement System now owns 5,368 shares of the company’s stock worth $1,152,000 after purchasing an additional 99 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on SITM. Needham & Company LLC upped their target price on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Barclays boosted their target price on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Stifel Nicolaus upped their price objective on shares of SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Raymond James reissued an “outperform” rating and issued a $250.00 price objective (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, SiTime currently has a consensus rating of “Moderate Buy” and an average price target of $232.00.

Insider Transactions at SiTime

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the completion of the transaction, the insider now owns 87,940 shares of the company’s stock, valued at $15,323,545. The trade was a 3.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Fariborz Assaderaghi sold 1,003 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the transaction, the insider now directly owns 99,678 shares of the company’s stock, valued at approximately $20,376,176.76. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,542 shares of company stock worth $978,713 in the last quarter. Insiders own 2.30% of the company’s stock.

SiTime Price Performance

NASDAQ SITM opened at $129.78 on Thursday. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -32.04 and a beta of 1.98. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The business’s fifty day moving average is $159.71 and its 200-day moving average is $192.44.

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.