Amalgamated Bank Acquires 122 Shares of SiTime Co. (NASDAQ:SITM)

Amalgamated Bank increased its holdings in SiTime Co. (NASDAQ:SITM) by 2.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,509 shares of the company’s stock after purchasing an additional 122 shares during the period. Amalgamated Bank’s holdings in SiTime were worth $945,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Signaturefd LLC boosted its position in SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after buying an additional 60 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares during the last quarter. GAMMA Investing LLC boosted its holdings in SiTime by 281.0% during the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after acquiring an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in SiTime during the 2nd quarter worth approximately $49,000. Finally, Van ECK Associates Corp purchased a new position in SiTime in the 3rd quarter worth approximately $123,000. Institutional investors own 84.31% of the company’s stock.

Insider Transactions at SiTime

In other SiTime news, insider Lionel Bonnot sold 3,230 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $140.55, for a total value of $453,976.50. Following the sale, the insider now owns 87,525 shares in the company, valued at approximately $12,301,638.75. This represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total transaction of $150,591.15. Following the transaction, the insider now owns 112,584 shares of the company’s stock, valued at $15,654,805.20. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,464 shares of company stock valued at $6,698,053. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

SITM has been the subject of a number of analyst reports. Roth Mkm increased their price objective on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus raised their price target on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Needham & Company LLC boosted 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. Finally, Barclays increased their target price on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday, November 8th.

SiTime Trading Up 0.6 %

Shares of NASDAQ SITM opened at $203.50 on Friday. The firm has a fifty day simple moving average of $173.36 and a two-hundred day simple moving average of $144.41. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $228.12. The firm has a market capitalization of $4.75 billion, a PE ratio of -49.15 and a beta of 1.83.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The company had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. SiTime’s revenue was up 62.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.81) earnings per share. On average, sell-side analysts predict that SiTime Co. will post -3.03 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.