LMR Partners LLP lifted its stake in SiTime Co. (NASDAQ:SITM - Free Report) by 705.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,500 shares of the company's stock after buying an additional 70,500 shares during the period. LMR Partners LLP owned about 0.35% of SiTime worth $13,807,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SITM. Signaturefd LLC boosted its position in shares of SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company's stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Nisa Investment Advisors LLC increased its position in SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company's stock worth $29,000 after buying an additional 88 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of SiTime by 281.0% during the second quarter. GAMMA Investing LLC now owns 381 shares of the company's stock worth $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 $49,000. Finally, Bessemer Group Inc. increased its stake in SiTime by 70.1% during the 1st quarter. Bessemer Group Inc. now owns 1,213 shares of the company's stock worth $113,000 after acquiring an additional 500 shares during the period. 84.31% of the stock is owned by institutional investors and hedge funds.
In related news, insider Piyush B. Sevalia sold 1,338 shares of the 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 transaction, the insider now directly owns 86,196 shares of the company's stock, valued at $15,515,280. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Torsten Kreindl sold 6,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the transaction, the director now directly owns 13,511 shares of the company's stock, valued at $2,984,039.46. This represents a 30.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,464 shares of company stock valued at $6,698,053 over the last 90 days. 2.30% of the stock is owned by insiders.
A number of equities research analysts have weighed in on SITM shares. Roth Mkm raised their target price on SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their target price on SiTime from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Needham & Company LLC lifted their price target on SiTime from $140.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Barclays boosted their target price on SiTime from $90.00 to $130.00 and gave the stock an "underweight" rating in a research note on Friday, November 8th.
Get Our Latest Stock Report on SITM
SiTime stock opened at $193.58 on Monday. The stock has a market cap of $4.52 billion, a P/E ratio of -46.76 and a beta of 1.83. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $228.12. The firm's fifty day moving average price is $176.00 and its 200-day moving average price is $145.93.
SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.14. The firm had revenue of $57.70 million for the quarter, compared to analysts' expectations of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The business's quarterly revenue was up 62.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.81) earnings per share. Sell-side analysts predict that SiTime Co. will post -2.98 earnings per share for the current year.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider SiTime, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SiTime wasn't on the list.
While SiTime currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.