Principal Financial Group Inc. raised its position in SiTime Co. (NASDAQ:SITM - Free Report) by 15.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 448,930 shares of the company's stock after acquiring an additional 59,931 shares during the quarter. Principal Financial Group Inc. owned 1.92% of SiTime worth $76,996,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the company. Signaturefd LLC increased its holdings in SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company's stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of SiTime by 59.5% in the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company's stock worth $29,000 after buying an additional 88 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in SiTime in the second quarter valued at $49,000. Van ECK Associates Corp bought a new position in SiTime during the 3rd quarter valued at $123,000. Finally, nVerses Capital LLC acquired a new position in SiTime during the 2nd quarter worth $124,000. 84.31% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have recently commented on SITM shares. Stifel Nicolaus increased their price target on shares of SiTime from $175.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Barclays lifted their target price on SiTime from $90.00 to $130.00 and gave the stock an "underweight" rating in a research report on Friday, November 8th. Roth Mkm upped their price target on SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC lifted their price objective on shares of SiTime from $140.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, November 7th.
Check Out Our Latest Research Report on SiTime
Insider Buying and Selling
In other news, Director Torsten Kreindl sold 6,000 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the transaction, the director now directly owns 13,511 shares of the company's stock, valued at approximately $2,984,039.46. This trade represents a 30.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajesh Vashist sold 12,000 shares of the company's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $259.25, for a total transaction of $3,111,000.00. Following the completion of the sale, the chief executive officer now directly owns 24,781 shares of the company's stock, valued at $6,424,474.25. The trade was a 32.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,270 shares of company stock valued at $7,202,728 in the last quarter. Company insiders own 2.30% of the company's stock.
SiTime Stock Up 0.3 %
SITM stock traded up $0.56 during midday trading on Friday, reaching $216.65. The company had a trading volume of 673,620 shares, compared to its average volume of 208,933. The stock has a 50 day moving average price of $206.22 and a 200 day moving average price of $164.98. The firm has a market capitalization of $5.06 billion, a PE ratio of -52.33 and a beta of 1.86. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18.
SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.14. The firm had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The firm's revenue was up 62.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.81) EPS. Research analysts predict that SiTime Co. will post -2.98 EPS for the current year.
About SiTime
(
Free Report)
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.
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