SiTime Co. (NASDAQ:SITM) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in SiTime Co. (NASDAQ:SITM) by 27.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 944 shares of the company’s stock after acquiring an additional 201 shares during the quarter. GAMMA Investing LLC’s holdings in SiTime were worth $203,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SITM. FMR LLC increased its position in SiTime by 1.1% during the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after purchasing an additional 39,119 shares during the last quarter. State Street Corp increased its holdings in shares of SiTime by 3.1% during the 3rd quarter. State Street Corp now owns 922,974 shares of the company’s stock worth $158,299,000 after buying an additional 27,692 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of SiTime by 15.4% during the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after buying an additional 59,931 shares during the period. Geode Capital Management LLC lifted its holdings in SiTime by 3.7% in the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock valued at $75,637,000 after acquiring an additional 15,759 shares during the last quarter. Finally, William Blair Investment Management LLC grew 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 acquiring an additional 79,648 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insider Buying and Selling at SiTime

In related news, insider Fariborz Assaderaghi sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.16, for a total transaction of $210,160.00. Following the sale, the insider now directly owns 108,574 shares in the company, valued at approximately $22,817,911.84. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samsheer Ahamad sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $172.73, for a total transaction of $690,920.00. Following the completion of the sale, the insider now directly owns 78,979 shares in the company, valued at approximately $13,642,042.67. This trade represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,931 shares of company stock valued at $7,017,644 in the last 90 days. Company insiders own 2.30% of the company’s stock.

SiTime Price Performance

Shares of SiTime stock opened at $230.94 on Wednesday. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of -55.78 and a beta of 1.82. The business has a 50-day moving average of $215.96 and a 200 day moving average of $172.79. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $268.18.

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, topping the consensus estimate of $0.26 by $0.14. The business had revenue of $57.70 million for the quarter, compared to analysts’ expectations of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The business’s quarterly revenue was up 62.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.81) earnings per share. Equities research analysts anticipate that SiTime Co. will post -2.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SITM shares. Needham & Company LLC increased their price target on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays increased their target price 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. Roth Mkm boosted their price target on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus increased their price objective on shares of SiTime from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday.

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.