Hanseatic Management Services Inc. purchased a new stake in SiTime Co. (NASDAQ:SITM - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,274 shares of the company's stock, valued at approximately $702,000.
Several other hedge funds also recently made changes to their positions in the stock. Driehaus Capital Management LLC bought a new position in shares of SiTime in the second quarter valued at approximately $16,831,000. LMR Partners LLP boosted its holdings in SiTime by 705.0% in the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company's stock valued at $13,807,000 after purchasing an additional 70,500 shares during the period. Principal Financial Group Inc. grew its position in shares of SiTime by 15.4% during the 3rd 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 in the last quarter. Marshall Wace LLP increased its holdings in shares of SiTime by 381.4% in the second quarter. Marshall Wace LLP now owns 60,650 shares of the company's stock worth $7,544,000 after purchasing an additional 48,051 shares during the period. Finally, FMR LLC raised its position in shares of SiTime by 1.1% in the third quarter. FMR LLC now owns 3,469,843 shares of the company's stock worth $595,113,000 after buying an additional 39,119 shares in the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Stifel Nicolaus upped their target price on SiTime from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Barclays raised their target price on shares of SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research note on Friday. Needham & Company LLC boosted their price target on shares of SiTime from $140.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Roth Mkm raised their price objective on shares of SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, November 7th.
Read Our Latest Stock Analysis on SiTime
SiTime Stock Performance
NASDAQ:SITM traded up $8.04 during mid-day trading on Friday, reaching $250.97. The stock had a trading volume of 123,881 shares, compared to its average volume of 196,014. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The firm has a 50 day moving average price of $224.50 and a two-hundred day moving average price of $179.97. The stock has a market capitalization of $5.86 billion, a P/E ratio of -60.62 and a beta of 1.82.
SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.14. The company 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 in the prior year, the company earned ($0.81) EPS. Research analysts forecast that SiTime Co. will post -2.98 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Samsheer Ahamad sold 4,000 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $172.73, for a total value of $690,920.00. Following the completion of the sale, the insider now owns 78,979 shares of the company's stock, valued at $13,642,042.67. This trade represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Fariborz Assaderaghi sold 1,002 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total transaction of $221,381.88. Following the transaction, the insider now directly owns 100,681 shares in the company, valued at approximately $22,244,460.14. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,931 shares of company stock worth $7,017,644 in the last ninety days. 2.30% of the stock is owned by 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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