Citigroup Inc. Buys 9,888 Shares of SiTime Co. (NASDAQ:SITM)

Citigroup Inc. boosted its holdings in shares of SiTime Co. (NASDAQ:SITM) by 65.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,892 shares of the company’s stock after acquiring an additional 9,888 shares during the period. Citigroup Inc. owned approximately 0.11% of SiTime worth $4,269,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SITM. Signaturefd LLC boosted its stake in shares of SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after buying an additional 60 shares during the period. Nisa Investment Advisors LLC lifted its position in SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of SiTime by 281.0% during the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after buying an additional 281 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of SiTime during the 2nd quarter worth approximately $49,000. Finally, Van ECK Associates Corp purchased a new position in SiTime in the 3rd quarter valued at approximately $123,000. 84.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SITM. Barclays lifted their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Stifel Nicolaus boosted their price target on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Needham & Company LLC upped 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. Finally, Roth Mkm increased their price objective on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

SiTime Trading Up 1.0 %

SITM stock opened at $219.28 on Wednesday. The stock has a market cap of $5.12 billion, a PE ratio of -52.97 and a beta of 1.86. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $228.12. The company has a 50-day moving average price of $190.15 and a 200 day moving average price of $154.55.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The firm had revenue of $57.70 million during the quarter, compared to analyst estimates of $55.10 million. During the same quarter in the previous year, the business posted ($0.81) EPS. SiTime’s revenue was up 62.4% on a year-over-year basis. Sell-side analysts forecast that SiTime Co. will post -2.98 EPS for the current year.

Insider Activity

In other SiTime news, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $140.00, for a total transaction of $140,420.00. Following the transaction, the insider now directly owns 111,581 shares of the company’s stock, valued at $15,621,340. This trade represents a 0.89 % 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 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 in the company, valued at approximately $72,180,599.19. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,514 shares of company stock valued at $6,382,144 in the last ninety days. Insiders own 2.30% of the company’s stock.

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.