SiTime Co. (NASDAQ:SITM) Position Increased by Sei Investments Co.

Sei Investments Co. raised its holdings in shares of SiTime Co. (NASDAQ:SITM) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,670 shares of the company’s stock after purchasing an additional 409 shares during the period. Sei Investments Co. owned about 0.06% of SiTime worth $1,825,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SITM. Pineridge Advisors LLC bought a new stake in SiTime during the fourth quarter valued at $25,000. Nisa Investment Advisors LLC boosted its holdings in shares of SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares during the period. GAMMA Investing LLC boosted its holdings in shares of SiTime by 281.0% during the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after acquiring an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of SiTime during the second quarter valued at $49,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of SiTime by 35.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock valued at $84,000 after acquiring an additional 180 shares during the period. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Up 1.4 %

SITM stock opened at $179.39 on Friday. The company has a market capitalization of $4.10 billion, a P/E ratio of -43.44 and a beta of 1.82. The company has a 50-day simple moving average of $144.34 and a 200 day simple moving average of $124.69. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $182.45.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping 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 the consensus estimate of $41.01 million. During the same quarter in the prior year, the company posted ($1.17) earnings per share. The company’s quarterly revenue was up 58.5% compared to the same quarter last year. Equities analysts anticipate that SiTime Co. will post -3.03 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SITM shares. Barclays downgraded shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a report on Tuesday, August 27th. Needham & Company LLC reissued a “buy” rating and set a $130.00 price target on shares of SiTime in a report on Tuesday, June 25th. Finally, Stifel Nicolaus upped their price objective on shares of SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 18th.

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 1,083 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $143.31, for a total value of $155,204.73. Following the sale, the insider now directly owns 103,103 shares in the company, valued at approximately $14,775,690.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SiTime news, insider Samsheer Ahamad sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $131.00, for a total value of $524,000.00. Following the sale, the insider now directly owns 78,856 shares in the company, valued at approximately $10,330,136. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,083 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $143.31, for a total value of $155,204.73. Following the sale, the insider now owns 103,103 shares in the company, valued at approximately $14,775,690.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,246 shares of company stock worth $7,441,590. 2.30% of the stock is owned by corporate insiders.

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.