William Blair Investment Management LLC Purchases 79,648 Shares of SiTime Co. (NASDAQ:SITM)

William Blair Investment Management LLC boosted its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 62.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 208,098 shares of the company's stock after buying an additional 79,648 shares during the period. William Blair Investment Management LLC owned approximately 0.91% of SiTime worth $25,883,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of SiTime by 7.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 142,439 shares of the company's stock worth $17,389,000 after purchasing an additional 9,694 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of SiTime by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company's stock valued at $30,112,000 after buying an additional 35,491 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of SiTime by 78.2% during the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the company's stock valued at $41,000 after acquiring an additional 147 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of SiTime by 125.1% in the fourth quarter. Brown Advisory Inc. now owns 155,947 shares of the company's stock worth $19,038,000 after acquiring an additional 86,675 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of SiTime during the fourth quarter worth $12,662,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

SiTime Stock Up 1.2 %

Shares of NASDAQ:SITM traded up $1.74 on Monday, reaching $148.23. The company had a trading volume of 116,407 shares, compared to its average volume of 210,545. The stock has a market capitalization of $3.43 billion, a P/E ratio of -35.47 and a beta of 1.82. The stock has a 50-day moving average price of $139.71 and a 200 day moving average price of $116.95. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $165.11.

SiTime (NASDAQ:SITM - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.08. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The firm had revenue of $43.90 million during the quarter, compared to analysts' expectations of $41.01 million. During the same quarter in the prior year, the business earned ($1.17) earnings per share. The company's revenue was up 58.5% on a year-over-year basis. On average, sell-side analysts predict that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Insider Activity at SiTime

In other SiTime news, insider Vincent P. Pangrazio sold 1,962 shares of the business's stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $150.00, for a total transaction of $294,300.00. Following the completion of the transaction, the insider now owns 69,175 shares of the company's stock, valued at approximately $10,376,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other SiTime news, insider Vincent P. Pangrazio sold 1,962 shares of SiTime stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $150.00, for a total value of $294,300.00. Following the transaction, the insider now directly owns 69,175 shares of the company's stock, valued at approximately $10,376,250. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $15,621,340. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,181 shares of company stock worth $3,636,308. 2.30% of the stock is owned by 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.