Net Worth Advisory Group Takes $209,000 Position in SiTime Co. (NASDAQ:SITM)

Net Worth Advisory Group acquired a new position in SiTime Co. (NASDAQ:SITM) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,223 shares of the company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in SiTime by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 2,117,486 shares of the company’s stock valued at $258,503,000 after acquiring an additional 50,876 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in 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 purchasing an additional 180 shares in the last quarter. Jennison Associates LLC grew its stake in SiTime by 0.9% in the first quarter. Jennison Associates LLC now owns 175,272 shares of the company’s stock valued at $16,341,000 after purchasing an additional 1,502 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings 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 in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of SiTime during the first quarter valued at about $925,000. 84.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.13, for a total value of $165,625.39. Following the transaction, the insider now owns 110,578 shares in the company, valued at approximately $18,259,745.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other SiTime news, insider Fariborz Assaderaghi sold 1,003 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.13, for a total value of $165,625.39. Following the sale, the insider now directly owns 110,578 shares of the company’s stock, valued at approximately $18,259,745.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Piyush B. Sevalia sold 1,338 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $180.00, for a total value of $240,840.00. Following the sale, the insider now directly owns 86,196 shares in the company, valued at $15,515,280. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,547 shares of company stock valued at $5,361,178 over the last quarter. 2.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

SiTime Trading Up 5.2 %

NASDAQ SITM opened at $184.15 on Tuesday. The stock has a market cap of $4.21 billion, a P/E ratio of -44.59 and a beta of 1.82. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $188.98. The company has a fifty day simple moving average of $156.28 and a two-hundred day simple moving average of $131.72.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) 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 analyst estimates of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The firm’s quarterly revenue was up 58.5% on a year-over-year basis. During the same quarter last year, the business posted ($1.17) EPS. As a group, sell-side analysts forecast that SiTime Co. will post -3.03 earnings per share for the current year.

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.