Y Intercept Hong Kong Ltd Makes New $588,000 Investment in SiTime Co. (NASDAQ:SITM)

Y Intercept Hong Kong Ltd acquired a new stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,431 shares of the company's stock, valued at approximately $588,000.

Several other large investors have also modified their holdings of the stock. Raymond James & Associates raised its stake in SiTime by 70.0% during the 2nd quarter. Raymond James & Associates now owns 32,607 shares of the company's stock valued at $4,056,000 after purchasing an additional 13,421 shares during the period. 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 acquiring an additional 88 shares in the last quarter. Atlas Brown Inc. acquired a new position in SiTime in the 2nd quarter valued at approximately $259,000. Louisiana State Employees Retirement System raised its holdings in shares of SiTime by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the company's stock worth $1,107,000 after acquiring an additional 200 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new stake in shares of SiTime during the 2nd quarter valued at about $448,000. 84.31% of the stock is owned by institutional investors.

SiTime Stock Performance

Shares of NASDAQ:SITM traded down $5.01 during midday trading on Friday, reaching $252.61. The company's stock had a trading volume of 285,584 shares, compared to its average volume of 198,080. The business's fifty day simple moving average is $201.30 and its 200-day simple moving average is $160.89. 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 announced 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 analyst estimates of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The company's revenue was up 62.4% on a year-over-year basis. During the same period last year, the company earned ($0.81) earnings per share. On average, equities research analysts predict that SiTime Co. will post -2.98 EPS for the current fiscal year.

Insider Activity at SiTime

In other news, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the transaction, the chief executive officer now directly owns 424,417 shares of the company's stock, valued at $72,180,599.19. This trade represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,000 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $249.42, for a total transaction of $249,420.00. Following the completion of the sale, the insider now owns 101,683 shares of the company's stock, valued at approximately $25,361,773.86. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,513 shares of company stock worth $6,708,428. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on SITM. Stifel Nicolaus boosted their target price 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. Needham & Company LLC raised 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 boosted their target price on SiTime from $205.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Barclays boosted their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an "underweight" rating in a research note 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.