Swedbank AB Raises Stock Position in SiTime Co. (NASDAQ:SITM)

Swedbank AB grew its stake in SiTime Co. (NASDAQ:SITM) by 21.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,000 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. Swedbank AB owned approximately 0.12% of SiTime worth $4,802,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Driehaus Capital Management LLC purchased a new position in SiTime in the 2nd quarter valued at about $16,831,000. Vanguard Group Inc. lifted its position in shares of SiTime by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after acquiring an additional 85,800 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of 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 last quarter. F M Investments LLC purchased a new stake in shares of SiTime during the second quarter worth approximately $8,909,000. Finally, Roubaix Capital LLC purchased a new stake in shares of SiTime during the first quarter worth approximately $5,288,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insider Buying and Selling

In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $170.07, for a total value of $3,401,400.00. Following the sale, the chief executive officer now owns 424,417 shares in the company, valued at $72,180,599.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Samsheer Ahamad sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $131.00, for a total transaction of $524,000.00. Following the completion of the transaction, the insider now owns 78,856 shares of the company’s stock, valued at approximately $10,330,136. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rajesh Vashist sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $170.07, for a total value 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 approximately $72,180,599.19. 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 sold 33,547 shares of company stock worth $5,361,178. Company insiders own 2.30% of the company’s stock.

SiTime Stock Up 1.1 %

NASDAQ SITM opened at $174.97 on Friday. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $188.98. The business’s fifty day simple moving average is $155.16 and its 200-day simple moving average is $130.46. The firm has a market cap of $4.00 billion, a PE ratio of -42.37 and a beta of 1.82.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.08. The company had revenue of $43.90 million for the quarter, compared to analyst estimates of $41.01 million. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. SiTime’s revenue was up 58.5% on a year-over-year basis. During the same period in the previous year, the business posted ($1.17) EPS. Research analysts expect that SiTime Co. will post -3.03 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on SITM. Needham & Company LLC restated a “buy” rating and issued a $130.00 price objective on shares of SiTime in a report on Tuesday, June 25th. Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a research report on Tuesday, August 27th. Finally, Stifel Nicolaus increased their price objective on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday.

SiTime 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.