Fmr LLC Acquires 39,119 Shares of SiTime Co. (NASDAQ:SITM)

Fmr LLC increased its holdings in shares of SiTime Co. (NASDAQ:SITM) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,469,843 shares of the company’s stock after acquiring an additional 39,119 shares during the quarter. Fmr LLC owned about 0.15% of SiTime worth $595,113,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SITM. Signaturefd LLC increased its position in SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after acquiring an additional 60 shares during the period. Nisa Investment Advisors LLC increased its holdings 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 buying an additional 88 shares during the period. GAMMA Investing LLC increased its holdings in SiTime by 281.0% in the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after buying an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in SiTime in the 2nd quarter valued at about $49,000. Finally, Van ECK Associates Corp bought a new position in SiTime in the 3rd quarter valued at about $123,000. 84.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SITM. Roth Mkm raised their target price on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus raised their target price on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Needham & Company LLC raised their target price on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, 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.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 363 shares of SiTime stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $216.25, for a total transaction of $78,498.75. Following the sale, the insider now directly owns 104,322 shares in the company, valued at $22,559,632.50. This trade represents a 0.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Piyush B. Sevalia sold 807 shares of SiTime stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total transaction of $129,120.00. Following the sale, the insider now owns 87,534 shares in the company, valued at approximately $14,005,440. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,514 shares of company stock worth $6,382,144 in the last ninety days. Company insiders own 2.30% of the company’s stock.

SiTime Trading Down 2.3 %

SITM opened at $204.85 on Friday. The company’s 50 day moving average is $187.01 and its 200-day moving average is $152.31. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $228.12. The company has a market cap of $4.79 billion, a P/E ratio of -49.48 and a beta of 1.83.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. During the same period last year, the company posted ($0.81) EPS. The firm’s quarterly revenue was up 62.4% compared to the same quarter last year. On average, equities analysts forecast that SiTime Co. will post -2.98 EPS for the current year.

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.