GAMMA Investing LLC Purchases 362 Shares of SiTime Co. (NASDAQ:SITM)

GAMMA Investing LLC increased its holdings in shares of SiTime Co. (NASDAQ:SITM) by 95.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 743 shares of the company’s stock after acquiring an additional 362 shares during the period. GAMMA Investing LLC’s holdings in SiTime were worth $127,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Handelsbanken Fonder AB boosted its stake in SiTime by 17.7% in the third quarter. Handelsbanken Fonder AB now owns 5,984 shares of the company’s stock worth $1,026,000 after purchasing an additional 900 shares in the last quarter. Quent Capital LLC bought a new position in shares of SiTime in the third quarter valued at about $528,000. SG Americas Securities LLC acquired a new position in SiTime during the 3rd quarter worth about $878,000. Algert Global LLC acquired a new position in SiTime during the 2nd quarter worth about $2,380,000. Finally, Driehaus Capital Management LLC bought a new stake in SiTime during the 2nd quarter worth about $16,831,000. 84.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SITM. Barclays lowered shares of 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. Stifel Nicolaus increased their price objective on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of SiTime in a research report on Tuesday, June 25th.

Insider Buying and Selling at SiTime

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

SiTime Price Performance

Shares of NASDAQ SITM opened at $185.00 on Monday. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $187.56. The firm has a market capitalization of $4.23 billion, a P/E ratio of -44.79 and a beta of 1.82. The company’s 50 day simple moving average is $149.34 and its 200 day simple moving average is $128.08.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The company had revenue of $43.90 million for the quarter, compared to analysts’ expectations of $41.01 million. During the same period last year, the firm posted ($1.17) earnings per share. The business’s quarterly revenue was up 58.5% compared to the same quarter last year. Sell-side analysts expect that SiTime Co. will post -3.03 EPS for the current fiscal year.

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.