Crossmark Global Holdings Inc. Takes $236,000 Position in SiTime Co. (NASDAQ:SITM)

Crossmark Global Holdings Inc. bought a new stake in SiTime Co. (NASDAQ:SITM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,378 shares of the company’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co lifted its position in shares of SiTime by 31.5% in the first 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 last quarter. UniSuper Management Pty Ltd acquired a new stake in SiTime during the 1st quarter valued at $363,000. Swedbank AB bought a new position in SiTime during the first quarter worth $2,144,000. Vanguard Group Inc. increased its holdings in shares of SiTime by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after purchasing an additional 85,800 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of SiTime by 8.0% in the second quarter. Public Sector Pension Investment Board now owns 38,743 shares of the company’s stock valued at $4,819,000 after purchasing an additional 2,861 shares during the period. Institutional investors own 84.31% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on SITM. Roth Mkm lifted their target price on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays boosted 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. Needham & Company LLC increased their target price on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus lifted their price target on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 17th.

SiTime Stock Up 3.3 %

NASDAQ SITM opened at $199.93 on Tuesday. The firm has a 50-day moving average price of $176.00 and a two-hundred day moving average price of $146.34. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $228.12. The company has a market capitalization of $4.67 billion, a P/E ratio of -46.76 and a beta of 1.83.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. The business had revenue of $57.70 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 62.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.81) earnings per share. Equities analysts expect that SiTime Co. will post -2.98 EPS for the current year.

Insiders Place Their Bets

In other SiTime news, insider Piyush B. Sevalia sold 807 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total value of $129,120.00. Following the sale, the insider now owns 87,534 shares of the company’s stock, valued at approximately $14,005,440. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Torsten Kreindl sold 6,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $220.86, for a total value of $1,325,160.00. Following the sale, the director now owns 13,511 shares of the company’s stock, 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 38,464 shares of company stock worth $6,698,053 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

SiTime 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.