Lisanti Capital Growth LLC Has $6.27 Million Stock Position in SiTime Co. (NASDAQ:SITM)

Lisanti Capital Growth LLC increased its position in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 42.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,245 shares of the company's stock after acquiring an additional 8,660 shares during the period. SiTime comprises 1.5% of Lisanti Capital Growth LLC's holdings, making the stock its 15th largest holding. Lisanti Capital Growth LLC owned approximately 0.13% of SiTime worth $6,274,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. LMR Partners LLP boosted its stake in SiTime by 705.0% in the third quarter. LMR Partners LLP now owns 80,500 shares of the company's stock valued at $13,807,000 after buying an additional 70,500 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of SiTime by 15.4% in 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. FMR LLC grew its holdings in shares of SiTime by 1.1% during the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company's stock valued at $595,113,000 after purchasing an additional 39,119 shares during the last quarter. Peregrine Investment Management Inc. acquired a new position in SiTime during the 4th quarter worth approximately $7,779,000. Finally, Raymond James Financial Inc. bought a new position in SiTime in the 4th quarter valued at approximately $7,312,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SITM shares. Stifel Nicolaus upped their price target on shares of SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Barclays upped their target price on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a report on Friday, January 17th. Needham & Company LLC lifted their price target on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, SiTime presently has an average rating of "Moderate Buy" and a consensus price target of $232.00.

SiTime Stock Up 4.1 %

SITM traded up $6.12 during midday trading on Tuesday, hitting $156.40. 370,641 shares of the company were exchanged, compared to its average volume of 222,387. The firm has a market capitalization of $3.69 billion, a P/E ratio of -38.62 and a beta of 1.85. The firm's 50 day moving average price is $200.89 and its 200-day moving average price is $192.55. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18.

Insider Buying and Selling

In other news, insider Vincent P. Pangrazio sold 3,064 shares of SiTime stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $255.00, for a total value of $781,320.00. Following the completion of the transaction, the insider now directly owns 65,978 shares of the company's stock, valued at approximately $16,824,390. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $157.64, for a total value of $163,630.32. Following the completion of the transaction, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,108 shares of company stock valued at $5,224,915 over the last ninety days. 2.30% of the stock is owned by company insiders.

SiTime Company 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.