Creative Planning Invests $842,000 in SiTime Co. (NASDAQ:SITM)

Creative Planning purchased a new stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,908 shares of the company's stock, valued at approximately $842,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company's stock worth $29,000 after purchasing an additional 88 shares in the last quarter. GAMMA Investing LLC grew its holdings in SiTime by 281.0% during the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company's stock valued at $47,000 after buying an additional 281 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in SiTime in the 2nd quarter worth approximately $49,000. PNC Financial Services Group Inc. raised its holdings in shares of SiTime by 35.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 689 shares of the company's stock worth $84,000 after acquiring an additional 180 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of SiTime by 70.1% in the first quarter. Bessemer Group Inc. now owns 1,213 shares of the company's stock valued at $113,000 after purchasing an additional 500 shares in the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $170.07, for a total value of $3,401,400.00. Following the completion of the sale, the chief executive officer now directly owns 424,417 shares in the company, valued at approximately $72,180,599.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $170.07, for a total value of $3,401,400.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lionel Bonnot sold 3,230 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $140.55, for a total transaction of $453,976.50. Following the transaction, the insider now owns 87,525 shares in the company, valued at approximately $12,301,638.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,464 shares of company stock valued at $4,681,973 over the last quarter. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SITM shares. Barclays lowered shares of SiTime from an "equal weight" rating to an "underweight" rating and set a $90.00 price objective for the company. in a research report on Tuesday, August 27th. Stifel Nicolaus boosted their price objective on SiTime from $175.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th.

SiTime Trading Up 0.9 %

Shares of NASDAQ SITM traded up $1.59 during midday trading on Friday, hitting $170.60. The company's stock had a trading volume of 155,646 shares, compared to its average volume of 144,543. The business's 50 day moving average is $163.72 and its two-hundred day moving average is $137.89. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $188.98. The firm has a market cap of $3.95 billion, a P/E ratio of -41.41 and a beta of 1.83.

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

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.