Los Angeles Capital Management LLC Invests $647,000 in SiTime Co. (NASDAQ:SITM)

Los Angeles Capital Management LLC bought a new position in shares of SiTime Co. (NASDAQ:SITM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,205 shares of the company's stock, valued at approximately $647,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SITM. Arizona State Retirement System increased its position in SiTime by 10.7% during the 2nd quarter. Arizona State Retirement System now owns 5,122 shares of the company's stock worth $637,000 after buying an additional 493 shares during the period. Rhumbline Advisers grew its position in shares of SiTime by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 51,019 shares of the company's stock worth $6,346,000 after purchasing an additional 745 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in shares of SiTime during the second quarter worth approximately $4,009,000. nVerses Capital LLC acquired a new stake in shares of SiTime in the second quarter valued at approximately $124,000. Finally, iA Global Asset Management Inc. acquired a new stake in SiTime during the second quarter worth approximately $2,336,000. Institutional investors and hedge funds own 84.31% of the company's stock.

SiTime Trading Up 3.5 %

NASDAQ:SITM traded up $4.98 during mid-day trading on Friday, hitting $146.49. 195,825 shares of the company's stock were exchanged, compared to its average volume of 211,077. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $165.11. The firm has a market capitalization of $3.35 billion, a P/E ratio of -35.47 and a beta of 1.82. The company has a 50 day simple moving average of $139.71 and a 200-day simple moving average of $116.78.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.08. The company had revenue of $43.90 million for the quarter, compared to analyst estimates of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The firm's quarterly revenue was up 58.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.17) earnings per share. As a group, analysts expect that SiTime Co. will post -3.03 earnings per share for the current year.

Insider Activity

In other SiTime news, EVP Piyush B. Sevalia sold 6,331 shares of the company's stock in a transaction on Monday, July 8th. The shares were sold at an average price of $140.20, for a total transaction of $887,606.20. Following the sale, the executive vice president now owns 83,293 shares of the company's stock, valued at $11,677,678.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SiTime news, insider Fariborz Assaderaghi sold 1,003 shares of the firm's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $140.00, for a total value of $140,420.00. Following the completion of the sale, the insider now directly owns 111,581 shares in the company, valued at $15,621,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Piyush B. Sevalia sold 6,331 shares of the company's stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $140.20, for a total transaction of $887,606.20. Following the transaction, the executive vice president now owns 83,293 shares in the company, valued at approximately $11,677,678.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,181 shares of company stock valued at $4,132,988. 2.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SITM shares. Needham & Company LLC reiterated a "buy" rating and set a $130.00 target price on shares of SiTime in a research report on Tuesday, June 25th. Barclays cut shares of SiTime from an "equal weight" rating to an "underweight" rating and set a $90.00 target price for the company. in a research report on Tuesday, August 27th. Finally, Stifel Nicolaus increased their price target on shares of SiTime from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, July 18th.

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.