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

Creative Planning purchased a new position in SiTime Co. (NASDAQ:SITM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,908 shares of the company’s stock, valued at approximately $842,000.

Several other institutional investors have also recently made changes to their positions in SITM. Nisa Investment Advisors LLC increased its holdings 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 purchasing an additional 88 shares during the period. GAMMA Investing LLC grew its position in SiTime by 281.0% in the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after acquiring an additional 281 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in SiTime in the second quarter worth $49,000. PNC Financial Services Group Inc. grew its position in SiTime by 35.4% in the fourth 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 position in SiTime by 70.1% in the first quarter. Bessemer Group Inc. now owns 1,213 shares of the company’s stock worth $113,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Up 0.9 %

NASDAQ SITM opened at $170.60 on Friday. The company has a 50-day simple moving average of $163.72 and a two-hundred day simple moving average of $137.47. 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 price-to-earnings ratio of -41.41 and a beta of 1.83.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $43.90 million during the quarter, compared to analyst estimates of $41.01 million. During the same period in the prior year, the business posted ($1.17) earnings per share. The company’s revenue was up 58.5% on a year-over-year basis. Equities analysts expect that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price for the company. in a research report on Tuesday, August 27th. Stifel Nicolaus upped 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.

Insider Buying and Selling at SiTime

In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 424,417 shares in the company, valued at $72,180,599.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Lionel Bonnot sold 3,230 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $140.55, for a total transaction of $453,976.50. Following the completion of the sale, the insider now directly owns 87,525 shares in the company, valued at approximately $12,301,638.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rajesh Vashist sold 20,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the sale, the chief executive officer now owns 424,417 shares of the company’s stock, valued at approximately $72,180,599.19. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,464 shares of company stock worth $4,681,973 over the last three months. Company insiders own 2.30% of the company’s stock.

SiTime Company Profile

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.