SiTime Co. (NASDAQ:SITM) Shares Acquired by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lifted its position in shares of SiTime Co. (NASDAQ:SITM) by 100.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,729 shares of the company’s stock after purchasing an additional 2,873 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in SiTime were worth $699,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust grew its holdings in shares of SiTime by 99.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 305 shares of the company’s stock worth $36,000 after purchasing an additional 152 shares during the period. Macquarie Group Ltd. purchased a new position in SiTime in the 1st quarter worth approximately $50,000. Amica Retiree Medical Trust boosted its holdings in SiTime by 479.5% in the 3rd quarter. Amica Retiree Medical Trust now owns 649 shares of the company’s stock worth $74,000 after acquiring an additional 537 shares during the period. Covestor Ltd boosted its holdings in SiTime by 14,500.0% in the 1st quarter. Covestor Ltd now owns 438 shares of the company’s stock worth $109,000 after acquiring an additional 435 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in SiTime in the 1st quarter worth approximately $129,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insider Activity at SiTime

In related news, CEO Rajesh Vashist sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $125.00, for a total transaction of $125,000.00. Following the sale, the chief executive officer now directly owns 428,655 shares of the company’s stock, valued at approximately $53,581,875. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Rajesh Vashist sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $125.00, for a total transaction of $125,000.00. Following the sale, the chief executive officer now directly owns 428,655 shares of the company’s stock, valued at approximately $53,581,875. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,026 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $92.33, for a total value of $94,730.58. Following the sale, the insider now directly owns 90,887 shares in the company, valued at $8,391,596.71. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,340 shares of company stock valued at $455,780. Corporate insiders own 1.60% of the company’s stock.

SiTime Stock Up 0.2 %

Shares of SITM opened at $78.68 on Wednesday. The business’s 50 day moving average is $95.04 and its two-hundred day moving average is $107.40. SiTime Co. has a 52-week low of $76.69 and a 52-week high of $141.99. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -21.67 and a beta of 1.78.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The firm had revenue of $42.40 million for the quarter, compared to analyst estimates of $41.65 million. SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. On average, equities analysts expect that SiTime Co. will post -2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on SITM shares. Stifel Nicolaus upped their price target on SiTime from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Barclays upped their price target on SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.00.

SiTime 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.