SiTime Co. (NASDAQ:SITM) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC increased its holdings in shares of SiTime Co. (NASDAQ:SITM) by 12,108.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,208 shares of the company’s stock after buying an additional 12,108 shares during the period. International Assets Investment Management LLC’s holdings in SiTime were worth $1,490,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

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

SiTime Price Performance

SITM opened at $73.44 on Monday. The company’s 50 day simple moving average is $92.53 and its two-hundred day simple moving average is $106.60. SiTime Co. has a 1-year low of $72.77 and a 1-year high of $141.99. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -20.23 and a beta of 1.78.

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

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 1,026 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $116.37, for a total value of $119,395.62. Following the transaction, the insider now directly owns 94,056 shares of the company’s stock, valued at approximately $10,945,296.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 3,340 shares of company stock valued at $330,780 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

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.