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

Everence Capital Management Inc. bought a new position in SiTime Co. (NASDAQ:SITM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,290 shares of the company’s stock, valued at approximately $393,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in SiTime by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 2,117,486 shares of the company’s stock worth $258,503,000 after buying an additional 50,876 shares in the last quarter. PNC Financial Services Group Inc. increased its stake 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. Jennison Associates LLC raised its holdings in SiTime by 0.9% during the first quarter. Jennison Associates LLC now owns 175,272 shares of the company’s stock worth $16,341,000 after purchasing an additional 1,502 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in SiTime by 2.4% in the first quarter. Texas Permanent School Fund Corp now owns 15,292 shares of the company’s stock worth $1,426,000 after purchasing an additional 357 shares during the period. Finally, Quantbot Technologies LP bought a new position in SiTime during the 1st quarter valued at $925,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Buying and Selling

In other SiTime news, insider Samsheer Ahamad sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $131.00, for a total value of $524,000.00. Following the transaction, the insider now owns 78,856 shares in the company, valued at approximately $10,330,136. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Fariborz Assaderaghi sold 1,083 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $143.31, for a total transaction of $155,204.73. Following the completion of the sale, the insider now owns 103,103 shares in the company, valued at approximately $14,775,690.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $131.00, for a total value of $524,000.00. Following the completion of the transaction, the insider now directly owns 78,856 shares in the company, valued at $10,330,136. The trade was a 0.00 % decrease in their ownership of the stock. 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. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Barclays downgraded SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective on the stock. in a research note on Tuesday, August 27th. Stifel Nicolaus upped their price target on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of SiTime in a research note on Tuesday, June 25th.

SiTime Stock Up 5.2 %

NASDAQ:SITM opened at $184.15 on Tuesday. The stock has a fifty day simple moving average of $156.28 and a 200 day simple moving average of $131.72. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of -44.59 and a beta of 1.82. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $188.98.

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. The firm had revenue of $43.90 million for the quarter, compared to analysts’ expectations of $41.01 million. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The company’s quarterly revenue was up 58.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.17) EPS. Equities analysts predict that SiTime Co. will post -3.03 earnings per share for the current year.

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.