Everence Capital Management Inc. Purchases New Holdings in SiTime Co. (NASDAQ:SITM)

Everence Capital Management Inc. purchased a new stake in SiTime Co. (NASDAQ:SITM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,990 shares of the company’s stock, valued at approximately $243,000.

Several other hedge funds have also made changes to their positions in the company. Mackenzie Financial Corp lifted its position in shares of SiTime by 8.1% in the 1st quarter. Mackenzie Financial Corp now owns 811 shares of the company’s stock valued at $201,000 after acquiring an additional 61 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of SiTime by 1.2% in the 1st quarter. Yousif Capital Management LLC now owns 8,091 shares of the company’s stock valued at $2,005,000 after acquiring an additional 98 shares in the last quarter. Amalgamated Bank lifted its position in shares of SiTime by 1.5% in the 3rd quarter. Amalgamated Bank now owns 7,606 shares of the company’s stock valued at $869,000 after acquiring an additional 113 shares in the last quarter. Arizona State Retirement System lifted its position in SiTime by 2.5% in the 3rd quarter. Arizona State Retirement System now owns 4,687 shares of the company’s stock worth $535,000 after buying an additional 115 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in SiTime by 2.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,287 shares of the company’s stock worth $490,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insider Activity

In related news, insider Fariborz Assaderaghi sold 1,288 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total value of $116,654.16. Following the transaction, the insider now directly owns 111,491 shares in the company, valued at approximately $10,097,739.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Fariborz Assaderaghi sold 1,288 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total value of $116,654.16. Following the transaction, the insider now directly owns 111,491 shares in the company, valued at approximately $10,097,739.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajesh Vashist sold 1,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $125.00, for a total transaction of $125,000.00. Following the completion of the transaction, the chief executive officer now owns 428,655 shares in the company, valued at $53,581,875. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,340 shares of company stock worth $455,780. 1.60% of the stock is owned by corporate insiders.

SiTime Stock Performance

SiTime stock opened at $74.47 on Friday. The firm’s fifty day simple moving average is $93.56 and its 200-day simple moving average is $106.96. SiTime Co. has a 1-year low of $73.88 and a 1-year high of $141.99.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The business had revenue of $42.40 million for the quarter, compared to the consensus estimate of $41.65 million. SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. On average, research analysts predict that SiTime Co. will post -2.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on SITM. Stifel Nicolaus increased their target price on shares of SiTime from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Barclays increased their target price on shares of SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, SiTime currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

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.