Fmr LLC Has $595.11 Million Stock Position in SiTime Co. (NASDAQ:SITM)

FMR LLC grew its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,469,843 shares of the company's stock after acquiring an additional 39,119 shares during the period. FMR LLC owned 14.85% of SiTime worth $595,113,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SITM. Driehaus Capital Management LLC bought a new stake in SiTime in the second quarter worth $16,831,000. Vanguard Group Inc. boosted its stake in shares of SiTime by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company's stock worth $205,412,000 after acquiring an additional 85,800 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of SiTime by 62.0% during the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company's stock valued at $25,883,000 after acquiring an additional 79,648 shares during the last quarter. F M Investments LLC acquired a new stake in SiTime in the 2nd quarter worth approximately $8,909,000. Finally, LMR Partners LLP boosted its position in SiTime by 705.0% during the third quarter. LMR Partners LLP now owns 80,500 shares of the company's stock worth $13,807,000 after purchasing an additional 70,500 shares during the period. Institutional investors and hedge funds own 84.31% of the company's stock.

Wall Street Analyst Weigh In

SITM has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an "underweight" rating in a research note on Friday, November 8th. Roth Mkm boosted their target price on shares of SiTime from $205.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Stifel Nicolaus upped their price target on shares of SiTime from $175.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Finally, Needham & Company LLC lifted their price objective on SiTime from $140.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th.

Insider Activity

In related news, CEO Rajesh Vashist sold 20,000 shares of the firm's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the completion of the sale, the chief executive officer now directly owns 424,417 shares of the company's stock, valued at $72,180,599.19. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Torsten Kreindl sold 6,000 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $220.86, for a total value of $1,325,160.00. Following the completion of the sale, the director now owns 13,511 shares of the company's stock, valued at approximately $2,984,039.46. This trade represents a 30.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,514 shares of company stock worth $6,382,144. 2.30% of the stock is currently owned by corporate insiders.

SiTime Price Performance

SiTime stock traded up $7.53 during mid-day trading on Friday, reaching $212.38. The company had a trading volume of 115,680 shares, compared to its average volume of 203,200. The company has a 50 day moving average of $187.01 and a 200-day moving average of $152.31. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $228.12.

SiTime (NASDAQ:SITM - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.14. The business had revenue of $57.70 million during the quarter, compared to analysts' expectations of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The firm's revenue was up 62.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.81) earnings per share. Analysts expect that SiTime Co. will post -2.98 EPS for the current year.

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.