Geode Capital Management LLC increased its position in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 440,922 shares of the company's stock after purchasing an additional 15,759 shares during the quarter. Geode Capital Management LLC owned approximately 1.89% of SiTime worth $75,637,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SITM. Signaturefd LLC lifted its position in shares of SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company's stock worth $26,000 after buying an additional 60 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company's stock worth $29,000 after acquiring an additional 88 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in SiTime in the second quarter worth $49,000. Van ECK Associates Corp bought a new position in SiTime in the 3rd quarter valued at $123,000. Finally, nVerses Capital LLC bought a new position in SiTime in the 2nd quarter valued at $124,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Roth Mkm boosted their price target on shares of SiTime from $205.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Needham & Company LLC boosted their target price on shares of SiTime from $140.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Barclays increased their target price on shares of SiTime from $90.00 to $130.00 and gave the company an "underweight" rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus lifted 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.
Check Out Our Latest Report on SiTime
SiTime Price Performance
NASDAQ:SITM traded up $0.56 on Friday, reaching $216.65. 673,620 shares of the company's stock were exchanged, compared to its average volume of 208,933. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of -52.33 and a beta of 1.86. The stock has a fifty day simple moving average of $206.22 and a 200-day simple moving average of $164.70. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18.
SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.26 by $0.14. The company had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. SiTime's revenue for the quarter was up 62.4% on a year-over-year basis. During the same period last year, the firm earned ($0.81) EPS. As a group, sell-side analysts predict that SiTime Co. will post -2.98 EPS for the current year.
Insider Activity at SiTime
In related news, CEO Rajesh Vashist sold 12,000 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $259.25, for a total transaction of $3,111,000.00. Following the completion of the transaction, the chief executive officer now owns 24,781 shares of the company's stock, valued at approximately $6,424,474.25. The trade was 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 accessible through the SEC website. Also, insider Vincent P. Pangrazio sold 3,064 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $255.00, for a total transaction of $781,320.00. Following the completion of the sale, the insider now owns 65,978 shares in the company, valued at $16,824,390. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,270 shares of company stock worth $7,202,728. 2.30% of the stock is owned by company insiders.
About SiTime
(
Free Report)
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.
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