SiTime Co. (NASDAQ:SITM) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of SiTime Co. (NASDAQ:SITMGet Rating) by 96.0% in the first quarter, Holdings Channel reports. The institutional investor owned 6,381 shares of the company’s stock after purchasing an additional 3,126 shares during the period. SG Americas Securities LLC’s holdings in SiTime were worth $1,581,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. FourThought Financial LLC lifted its stake in SiTime by 30.1% during the first quarter. FourThought Financial LLC now owns 454 shares of the company’s stock worth $113,000 after purchasing an additional 105 shares during the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of SiTime during the 1st quarter worth approximately $78,000. TownSquare Capital LLC boosted its holdings in shares of SiTime by 18.4% in the 1st quarter. TownSquare Capital LLC now owns 2,688 shares of the company’s stock valued at $666,000 after buying an additional 417 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of SiTime by 11.7% in the 1st quarter. New York State Teachers Retirement System now owns 15,256 shares of the company’s stock valued at $3,781,000 after buying an additional 1,604 shares during the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new stake in SiTime during the 1st quarter worth $304,000. 62.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SITM has been the topic of several research reports. TheStreet lowered SiTime from a “c-” rating to a “d” rating in a report on Wednesday, April 27th. Barclays lowered their target price on shares of SiTime from $325.00 to $230.00 and set an “overweight” rating on the stock in a research report on Monday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $287.00.

Insider Buying and Selling at SiTime

In other news, CEO Rajesh Vashist sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $190.71, for a total value of $953,550.00. Following the completion of the sale, the chief executive officer now owns 608,300 shares in the company, valued at approximately $116,008,893. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SiTime news, Director Edward H. Frank sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $197.23, for a total value of $394,460.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $986,150. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Rajesh Vashist sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $190.71, for a total transaction of $953,550.00. Following the transaction, the chief executive officer now directly owns 608,300 shares in the company, valued at $116,008,893. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,152 shares of company stock valued at $3,985,418. 1.16% of the stock is owned by company insiders.

SiTime Stock Down 2.8 %

Shares of SITM stock opened at $169.02 on Wednesday. SiTime Co. has a 52-week low of $114.02 and a 52-week high of $341.77. The stock’s 50-day moving average price is $179.73 and its 200 day moving average price is $195.28. The stock has a market capitalization of $3.56 billion, a PE ratio of 87.58, a price-to-earnings-growth ratio of 7.02 and a beta of 1.68.

SiTime (NASDAQ:SITMGet Rating) last released its earnings results on Wednesday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). SiTime had a net margin of 16.56% and a return on equity of 8.76%. The company had revenue of $70.25 million during the quarter, compared to analyst estimates of $65.00 million. During the same period in the previous year, the firm posted ($0.20) EPS. The company’s revenue for the quarter was up 97.7% on a year-over-year basis. Analysts expect that SiTime Co. will post 1.66 earnings per share for the current fiscal year.

About SiTime

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SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

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Institutional Ownership by Quarter for SiTime (NASDAQ:SITM)

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