Marshall Wace LLP Has $7.54 Million Position in SiTime Co. (NASDAQ:SITM)

Marshall Wace LLP lifted its holdings in SiTime Co. (NASDAQ:SITM) by 381.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,650 shares of the company’s stock after buying an additional 48,051 shares during the period. Marshall Wace LLP owned about 0.26% of SiTime worth $7,544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in SiTime by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after acquiring an additional 85,800 shares during the period. Wasatch Advisors LP lifted its position in shares of SiTime by 2.9% in the fourth quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock worth $108,908,000 after purchasing an additional 25,324 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of SiTime by 15.2% during the second quarter. Principal Financial Group Inc. now owns 388,999 shares of the company’s stock worth $48,384,000 after purchasing an additional 51,407 shares during the period. William Blair Investment Management LLC grew its position in SiTime by 62.0% during the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after purchasing an additional 79,648 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in SiTime by 0.9% in the 1st quarter. Jennison Associates LLC now owns 175,272 shares of the company’s stock valued at $16,341,000 after buying an additional 1,502 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SITM shares. Stifel Nicolaus boosted their price target on shares of SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 target price on shares of SiTime in a research report on Tuesday, June 25th. Finally, Barclays lowered 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.

SiTime Trading Down 2.6 %

SITM stock opened at $171.51 on Tuesday. The firm has a market cap of $3.92 billion, a PE ratio of -41.53 and a beta of 1.82. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $181.00. The company has a fifty day simple moving average of $142.01 and a 200 day simple moving average of $121.88.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The company had revenue of $43.90 million during the quarter, compared to analysts’ expectations of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The business’s quarterly revenue was up 58.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.17) earnings per share. As a group, analysts forecast that SiTime Co. will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Piyush B. Sevalia sold 6,331 shares of SiTime stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $140.20, for a total value of $887,606.20. Following the transaction, the executive vice president now owns 83,293 shares of the company’s stock, valued at $11,677,678.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the completion of the sale, the chief executive officer now directly owns 424,417 shares in the company, valued at $72,180,599.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Piyush B. Sevalia sold 6,331 shares of SiTime stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $140.20, for a total value of $887,606.20. Following the completion of the transaction, the executive vice president now owns 83,293 shares in the company, valued at $11,677,678.60. The disclosure for this sale can be found here. Insiders sold 45,905 shares of company stock valued at $7,035,124 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

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.