SiTime Co. (NASDAQ:SITM) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,922 shares of the company's stock after acquiring an additional 15,759 shares during the quarter. Geode Capital Management LLC owned about 1.89% of SiTime worth $75,637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SITM. Driehaus Capital Management LLC purchased a new stake in SiTime in the 2nd quarter valued at $16,831,000. William Blair Investment Management LLC increased its position in SiTime by 62.0% in 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 period. F M Investments LLC purchased a new stake in SiTime during the 2nd quarter valued at approximately $8,909,000. LMR Partners LLP lifted its position in SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company's stock worth $13,807,000 after acquiring an additional 70,500 shares during the period. Finally, Principal Financial Group Inc. increased its holdings 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 valued at $76,996,000 after purchasing an additional 59,931 shares during the period. 84.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Rajesh Vashist sold 12,000 shares of the company's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $259.25, for a total value of $3,111,000.00. Following the sale, the chief executive officer now directly owns 24,781 shares in the company, valued at $6,424,474.25. This represents a 32.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Piyush B. Sevalia sold 1,338 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $180.00, for a total value of $240,840.00. Following the sale, the insider now directly owns 86,196 shares in the company, valued at approximately $15,515,280. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,270 shares of company stock worth $7,202,728 over the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SITM shares. Barclays increased 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. Stifel Nicolaus increased their price target on shares of SiTime from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Needham & Company LLC lifted their price objective on SiTime from $140.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Roth Mkm boosted their target price on SiTime from $205.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th.

SiTime Stock Performance

SITM stock traded up $0.56 during trading on Friday, reaching $216.65. 673,620 shares of the company were exchanged, compared to its average volume of 208,933. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18. The company has a market cap of $5.06 billion, a P/E ratio of -52.33 and a beta of 1.86. The stock's 50 day moving average price is $206.22 and its 200 day moving average price is $164.36.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.26 by $0.14. The business had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The company's quarterly revenue was up 62.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.81) EPS. As a group, equities research analysts forecast that SiTime Co. will post -2.98 EPS for the current 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.