Algert Global LLC Has $2.42 Million Holdings in SiTime Co. (NASDAQ:SITM)

Algert Global LLC trimmed its position in SiTime Co. (NASDAQ:SITM - Free Report) by 26.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,082 shares of the company's stock after selling 5,050 shares during the quarter. Algert Global LLC owned 0.06% of SiTime worth $2,415,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. grew its stake in SiTime by 47.0% during the 1st quarter. Russell Investments Group Ltd. now owns 7,754 shares of the company's stock valued at $723,000 after purchasing an additional 2,480 shares in the last quarter. Vanguard Group Inc. grew its stake in SiTime by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company's stock valued at $205,412,000 after purchasing an additional 85,800 shares in the last quarter. Bessemer Group Inc. grew its stake in SiTime by 70.1% during the 1st quarter. Bessemer Group Inc. now owns 1,213 shares of the company's stock valued at $113,000 after purchasing an additional 500 shares in the last quarter. American International Group Inc. grew its position in shares of SiTime by 1.2% in the 1st quarter. American International Group Inc. now owns 9,566 shares of the company's stock worth $892,000 after acquiring an additional 110 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of SiTime by 31.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company's stock worth $1,712,000 after acquiring an additional 4,410 shares in the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus raised their price target on SiTime from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Needham & Company LLC raised their price target on SiTime from $140.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Barclays raised their price target on SiTime from $90.00 to $130.00 and gave the stock an "underweight" rating in a report on Friday, November 8th. Finally, Roth Mkm lifted their target price on SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, November 7th.

Insiders Place Their Bets

In related news, insider Fariborz Assaderaghi sold 1,003 shares of the business's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $140.00, for a total transaction of $140,420.00. Following the transaction, the insider now directly owns 111,581 shares in the company, valued at $15,621,340. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Rajesh Vashist sold 20,000 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $170.07, for a total value of $3,401,400.00. Following the transaction, the chief executive officer now owns 424,417 shares in the company, valued at $72,180,599.19. This represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,151 shares of company stock valued at $6,303,645 over the last quarter. Insiders own 2.30% of the company's stock.

SiTime Stock Down 3.0 %

Shares of SITM traded down $6.34 during midday trading on Wednesday, reaching $203.42. The stock had a trading volume of 44,464 shares, compared to its average volume of 203,051. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $228.12. The firm's 50 day moving average price is $185.31 and its 200-day moving average price is $151.58.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. During the same quarter in the previous year, the company posted ($0.81) earnings per share. SiTime's revenue for the quarter was up 62.4% compared to the same quarter last year. On average, equities analysts predict that SiTime Co. will post -2.98 EPS for the current fiscal year.

SiTime Profile

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.