Algert Global LLC Decreases Stock Holdings in SiTime Co. (NASDAQ:SITM)

Algert Global LLC lowered its position in SiTime Co. (NASDAQ:SITM) by 26.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,082 shares of the company’s stock after selling 5,050 shares during the period. Algert Global LLC owned approximately 0.06% of SiTime worth $2,415,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Signaturefd LLC increased its position in shares of SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Nisa Investment Advisors LLC increased its position in SiTime by 59.5% during 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 in the last quarter. GAMMA Investing LLC raised its stake in SiTime by 281.0% in the second 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 last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in SiTime in the second quarter worth about $49,000. Finally, Bessemer Group Inc. grew its stake in shares of SiTime by 70.1% during the first quarter. Bessemer Group Inc. now owns 1,213 shares of the company’s stock worth $113,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Trading Down 2.6 %

Shares of NASDAQ SITM opened at $209.76 on Wednesday. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of -50.67 and a beta of 1.83. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $228.12. The company has a 50 day simple moving average of $185.31 and a two-hundred day simple moving average of $151.58.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.26 by $0.14. The company had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The firm’s revenue was up 62.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.81) earnings per share. Analysts forecast that SiTime Co. will post -2.98 EPS for the current year.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,003 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $140.00, for a total transaction of $140,420.00. Following the sale, the insider now owns 111,581 shares in the company, valued at approximately $15,621,340. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rajesh Vashist sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the completion of the transaction, the chief executive officer now owns 424,417 shares of the company’s stock, valued at approximately $72,180,599.19. This trade represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,151 shares of company stock worth $6,303,645. 2.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on SITM shares. Needham & Company LLC increased their price objective on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays raised their price target on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Stifel Nicolaus boosted 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, October 17th. Finally, Roth Mkm raised their target price on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

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.