Lisanti Capital Growth LLC Sells 11,650 Shares of SiTime Co. (NASDAQ:SITM)

Lisanti Capital Growth LLC lowered its stake in SiTime Co. (NASDAQ:SITM - Free Report) by 36.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,585 shares of the company's stock after selling 11,650 shares during the quarter. Lisanti Capital Growth LLC owned about 0.09% of SiTime worth $3,531,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of SiTime by 73.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,500 shares of the company's stock worth $2,750,000 after buying an additional 12,500 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in SiTime by 31.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company's stock worth $1,712,000 after buying an additional 4,410 shares during the period. UniSuper Management Pty Ltd bought a new stake in shares of SiTime in the first quarter valued at about $363,000. Swedbank AB acquired a new position in shares of SiTime in the first quarter valued at about $2,144,000. Finally, Vanguard Group Inc. raised its stake in SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company's stock worth $205,412,000 after purchasing an additional 85,800 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

SiTime Price Performance

NASDAQ SITM traded down $10.19 on Monday, hitting $215.26. The stock had a trading volume of 235,802 shares, compared to its average volume of 205,710. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $228.12. The business's fifty day moving average price is $169.16 and its 200 day moving average price is $142.24. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of -52.09 and a beta of 1.83.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The firm had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. During the same quarter in the previous year, the company earned ($0.81) EPS. The business's revenue for the quarter was up 62.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that SiTime Co. will post -3.03 EPS for the current year.

Insider Buying and Selling

In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 424,417 shares in the company, valued at $72,180,599.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Rajesh Vashist sold 20,000 shares of the 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 completion of the transaction, the chief executive officer now owns 424,417 shares in the company, valued at $72,180,599.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 completion of the transaction, the insider now owns 86,196 shares of the company's stock, valued at $15,515,280. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,464 shares of company stock worth $5,372,893. 2.30% of the stock is owned by corporate insiders.

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.