Swedbank AB Has $4.80 Million Position in SiTime Co. (NASDAQ:SITM)

Swedbank AB boosted its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 21.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,000 shares of the company's stock after buying an additional 5,000 shares during the period. Swedbank AB owned 0.12% of SiTime worth $4,802,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co boosted its holdings in shares of SiTime by 31.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company's stock valued at $1,712,000 after buying an additional 4,410 shares during the period. LMR Partners LLP lifted its holdings in SiTime by 705.0% in the third quarter. LMR Partners LLP now owns 80,500 shares of the company's stock worth $13,807,000 after purchasing an additional 70,500 shares during the period. Vanguard Group Inc. grew its position in SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company's stock valued at $205,412,000 after buying an additional 85,800 shares in the last quarter. Public Sector Pension Investment Board increased its stake in SiTime by 8.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 38,743 shares of the company's stock valued at $4,819,000 after buying an additional 2,861 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of SiTime by 47.0% in the 1st quarter. Russell Investments Group Ltd. now owns 7,754 shares of the company's stock worth $723,000 after acquiring an additional 2,480 shares during the period. Institutional investors and hedge funds own 84.31% of the company's stock.

Insider Activity

In related news, insider Fariborz Assaderaghi sold 363 shares of SiTime stock in a transaction on Monday, November 25th. The shares were sold at an average price of $216.25, for a total value of $78,498.75. Following the transaction, the insider now owns 104,322 shares in the company, valued at $22,559,632.50. This trade represents a 0.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Torsten Kreindl sold 6,000 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $220.86, for a total value of $1,325,160.00. Following the completion of the sale, the director now directly owns 13,511 shares in the company, valued at approximately $2,984,039.46. This represents a 30.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,514 shares of company stock valued at $6,382,144 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

SiTime Price Performance

NASDAQ:SITM traded down $4.91 during trading hours on Thursday, reaching $204.85. The company's stock had a trading volume of 164,014 shares, compared to its average volume of 203,580. SiTime Co. has a one year low of $72.39 and a one year high of $228.12. The business's 50-day moving average is $186.27 and its 200-day moving average is $151.95. The company has a market cap of $4.79 billion, a price-to-earnings ratio of -49.48 and a beta of 1.83.

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, beating analysts' consensus estimates of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. During the same quarter in the prior year, the firm posted ($0.81) EPS. The firm's revenue for the quarter was up 62.4% on a year-over-year basis. On average, sell-side analysts predict that SiTime Co. will post -2.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SITM has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target on shares of SiTime from $175.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Needham & Company LLC increased their target price on SiTime from $140.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Roth Mkm increased their price target on shares of SiTime from $205.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Barclays increased their price objective on SiTime from $90.00 to $130.00 and gave the stock an "underweight" rating in a report on Friday, November 8th.

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.