Intech Investment Management LLC Buys New Position in SiTime Co. (NASDAQ:SITM)

Intech Investment Management LLC bought a new stake in shares of SiTime Co. (NASDAQ:SITM) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 4,175 shares of the company’s stock, valued at approximately $716,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Nisa Investment Advisors LLC boosted its stake 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 purchasing an additional 88 shares during the period. GAMMA Investing LLC boosted its stake 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 purchasing an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in SiTime during the 2nd quarter valued at approximately $49,000. Finally, Van ECK Associates Corp bought a new stake in SiTime during the 3rd quarter valued at approximately $123,000. Institutional investors own 84.31% of the company’s stock.

Insider Transactions at SiTime

In other news, Director Torsten Kreindl sold 6,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $220.86, for a total value of $1,325,160.00. Following the completion of the transaction, the director now directly owns 13,511 shares of the company’s stock, valued at approximately $2,984,039.46. This represents a 30.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 directly owns 111,581 shares of the company’s stock, valued at approximately $15,621,340. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,514 shares of company stock valued at $6,382,144. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

SITM has been the subject of several recent analyst reports. Roth Mkm increased their target price on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC raised their price objective on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus raised their price objective on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Barclays raised their price objective on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th.

SiTime Trading Up 3.7 %

Shares of SITM stock opened at $212.38 on Friday. The stock has a 50 day moving average of $187.98 and a two-hundred day moving average of $152.93. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $228.12. The company has a market capitalization of $4.96 billion, a P/E ratio of -51.30 and a beta of 1.83.

SiTime (NASDAQ:SITM) last issued its 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. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. During the same period in the prior year, the firm posted ($0.81) EPS. SiTime’s quarterly revenue was up 62.4% compared to the same quarter last year. Sell-side analysts predict that SiTime Co. will post -2.98 earnings per share 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.