SiTime Co. (NASDAQ:SITM) Shares Purchased by Citigroup Inc.

Citigroup Inc. boosted its stake in shares of SiTime Co. (NASDAQ:SITM) by 65.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,892 shares of the company’s stock after acquiring an additional 9,888 shares during the quarter. Citigroup Inc.’s holdings in SiTime were worth $4,269,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings in SiTime by 7.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock worth $28,440,000 after purchasing an additional 11,955 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of SiTime during the 3rd quarter worth $716,000. LMR Partners LLP boosted its position in shares of SiTime by 705.0% in the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after buying an additional 70,500 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of SiTime by 0.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock worth $2,524,000 after buying an additional 94 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in shares of SiTime in the 3rd quarter worth about $205,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Roth Mkm upped their price target on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC upped their price target on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Barclays increased their target price on SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research note on Friday, November 8th.

SiTime Price Performance

SITM opened at $219.28 on Wednesday. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $228.12. The business has a 50-day moving average of $190.15 and a 200-day moving average of $154.55. The company has a market capitalization of $5.12 billion, a PE ratio of -52.97 and a beta of 1.86.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.26 by $0.14. The company had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The company’s revenue for the quarter was up 62.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.81) EPS. On average, equities research analysts expect that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Insider Buying and Selling at SiTime

In related news, insider Piyush B. Sevalia sold 807 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total transaction of $129,120.00. Following the completion of the transaction, the insider now directly owns 87,534 shares in the company, valued at approximately $14,005,440. This trade represents a 0.91 % 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, insider Fariborz Assaderaghi sold 1,003 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $140.00, for a total value of $140,420.00. Following the completion of the transaction, the insider now owns 111,581 shares of the company’s stock, valued at approximately $15,621,340. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,514 shares of company stock worth $6,382,144 over the last three months. Company insiders own 2.30% of the company’s stock.

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.