Lazard Asset Management LLC Buys Shares of 381 SiTime Co. (NASDAQ:SITM)

Lazard Asset Management LLC purchased a new stake in SiTime Co. (NASDAQ:SITM) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 381 shares of the company’s stock, valued at approximately $81,000.

Other hedge funds have also modified their holdings of the company. Barclays PLC boosted its stake in SiTime by 80.7% during the third quarter. Barclays PLC now owns 37,982 shares of the company’s stock worth $6,515,000 after buying an additional 16,964 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of SiTime by 39.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 1,915 shares of the company’s stock worth $411,000 after acquiring an additional 537 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of SiTime by 601.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,318 shares of the company’s stock worth $283,000 after purchasing an additional 1,130 shares during the period. Blue Trust Inc. increased its holdings in SiTime by 118.0% in the 4th quarter. Blue Trust Inc. now owns 327 shares of the company’s stock valued at $70,000 after purchasing an additional 177 shares during the last quarter. Finally, KBC Group NV raised its position in SiTime by 3.0% in the fourth quarter. KBC Group NV now owns 6,402 shares of the company’s stock valued at $1,373,000 after purchasing an additional 184 shares during the period. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

SiTime Price Performance

Shares of NASDAQ SITM opened at $197.59 on Monday. The company has a market cap of $4.69 billion, a price-to-earnings ratio of -48.79 and a beta of 2.24. The stock’s 50-day moving average is $161.61 and its two-hundred day moving average is $191.07. SiTime Co. has a 1-year low of $105.40 and a 1-year high of $268.18.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.15. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The firm had revenue of $60.31 million for the quarter, compared to analysts’ expectations of $54.01 million. During the same quarter last year, the company earned ($0.08) earnings per share. The firm’s revenue was up 82.7% compared to the same quarter last year. Equities research analysts anticipate that SiTime Co. will post -2.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Tom Dang-Hsing Yiu sold 2,115 shares of SiTime stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $200.00, for a total transaction of $423,000.00. Following the sale, the director now owns 18,500 shares in the company, valued at approximately $3,700,000. The trade was a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,267 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $147.80, for a total value of $187,262.60. Following the completion of the sale, the insider now directly owns 113,584 shares of the company’s stock, valued at approximately $16,787,715.20. This trade represents a 1.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,495 shares of company stock valued at $9,500,531 in the last ninety days. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SITM. Barclays raised their price target on SiTime from $110.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, May 8th. Needham & Company LLC raised their target price on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Raymond James reaffirmed an “outperform” rating and issued a $250.00 target price (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Finally, Stifel Nicolaus raised their price objective on shares of SiTime from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.00.

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.