Charles Schwab Investment Management Inc. Buys 11,955 Shares of SiTime Co. (NASDAQ:SITM)

Charles Schwab Investment Management Inc. raised its holdings in shares of SiTime Co. (NASDAQ:SITM) by 7.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 165,820 shares of the company’s stock after purchasing an additional 11,955 shares during the period. Charles Schwab Investment Management Inc. owned 0.72% of SiTime worth $28,440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Driehaus Capital Management LLC purchased a new stake in shares of SiTime during the second quarter valued at approximately $16,831,000. William Blair Investment Management LLC increased its position in SiTime by 62.0% in the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after buying an additional 79,648 shares in the last quarter. F M Investments LLC bought a new stake in SiTime during the 2nd quarter worth approximately $8,909,000. LMR Partners LLP lifted its stake in shares of SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after buying an additional 70,500 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after acquiring an additional 59,931 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Trading Up 1.9 %

NASDAQ:SITM opened at $223.42 on Thursday. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $229.64. The company has a market cap of $5.22 billion, a price-to-earnings ratio of -53.97 and a beta of 1.86. The stock has a fifty day simple moving average of $191.26 and a 200-day simple moving average of $155.03.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $55.10 million. During the same period last year, the company earned ($0.81) earnings per share. The business’s revenue for the quarter was up 62.4% compared to the same quarter last year. As a group, equities research analysts predict that SiTime Co. will post -2.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SITM. Needham & Company LLC increased their price objective on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays raised their target price on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Stifel Nicolaus lifted their price objective on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Roth Mkm lifted their price objective on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Insider Transactions at SiTime

In related news, insider Fariborz Assaderaghi sold 1,002 shares of SiTime stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $216.85, for a total value of $217,283.70. Following the completion of the sale, the insider now directly owns 102,683 shares in the company, valued at $22,266,808.55. The trade was a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Piyush B. Sevalia sold 807 shares of SiTime stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.00, for a total value of $129,120.00. Following the completion of the sale, the insider now owns 87,534 shares of the company’s stock, valued at $14,005,440. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,516 shares of company stock worth $6,599,428. 2.30% of the stock is currently owned by insiders.

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.