SiTime Co. (NASDAQ:SITM) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in shares of SiTime Co. (NASDAQ:SITM) by 27.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 944 shares of the company’s stock after acquiring an additional 201 shares during the quarter. GAMMA Investing LLC’s holdings in SiTime were worth $203,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Signaturefd LLC boosted its holdings in SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of SiTime in the 3rd quarter valued at $123,000. Sanctuary Advisors LLC purchased a new position in shares of SiTime in the 3rd quarter valued at $166,000. Virtu Financial LLC acquired a new stake in SiTime during the 3rd quarter worth $204,000. Finally, CIBC Asset Management Inc purchased a new stake in SiTime in the third quarter valued at $205,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insider Buying and Selling at SiTime

In other news, CEO Rajesh Vashist sold 12,000 shares of SiTime stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $259.25, for a total value of $3,111,000.00. Following the sale, the chief executive officer now owns 24,781 shares of the company’s stock, valued at $6,424,474.25. The trade was a 32.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $172.73, for a total transaction of $690,920.00. Following the transaction, the insider now directly owns 78,979 shares of the company’s stock, valued at $13,642,042.67. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,931 shares of company stock valued at $7,017,644. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SITM has been the topic of several research reports. Roth Mkm raised their price objective on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays lifted their price target on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Stifel Nicolaus increased their price objective on SiTime from $230.00 to $250.00 and gave the company a “buy” rating in a report on Monday. Finally, Needham & Company LLC lifted their target price on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

SiTime Stock Down 2.3 %

NASDAQ SITM opened at $230.94 on Wednesday. The firm has a market cap of $5.40 billion, a P/E ratio of -55.78 and a beta of 1.82. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18. The business’s 50-day moving average price is $215.96 and its 200 day moving average price is $172.79.

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