51,664 Shares in SiTime Corporation $SITM Purchased by Nuveen LLC

Nuveen LLC acquired a new position in SiTime Corporation (NASDAQ:SITM) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 51,664 shares of the company’s stock, valued at approximately $7,898,000. Nuveen LLC owned 0.22% of SiTime as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of SiTime by 80.9% in the 1st quarter. GAMMA Investing LLC now owns 1,708 shares of the company’s stock worth $261,000 after acquiring an additional 764 shares during the period. Rhumbline Advisers increased its holdings in shares of SiTime by 0.9% in the 1st quarter. Rhumbline Advisers now owns 51,143 shares of the company’s stock worth $7,818,000 after acquiring an additional 440 shares during the period. Millennium Management LLC increased its holdings in shares of SiTime by 205.0% in the 4th quarter. Millennium Management LLC now owns 7,344 shares of the company’s stock worth $1,576,000 after acquiring an additional 4,936 shares during the period. Tidal Investments LLC acquired a new stake in shares of SiTime in the 4th quarter worth about $217,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of SiTime in the 4th quarter worth about $318,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Activity at SiTime

In other news, EVP Elizabeth A. Howe sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $208.00, for a total transaction of $312,000.00. Following the completion of the transaction, the executive vice president owned 71,474 shares in the company, valued at approximately $14,866,592. This trade represents a 2.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Rajesh Vashist sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $215.00, for a total transaction of $2,150,000.00. Following the transaction, the chief executive officer owned 474,763 shares of the company’s stock, valued at approximately $102,074,045. This trade represents a 2.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,861 shares of company stock worth $5,006,357. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SITM. Barclays increased their target price on shares of SiTime from $180.00 to $220.00 and gave the company an “underweight” rating in a research report on Thursday, August 7th. UBS Group began coverage on shares of SiTime in a research report on Thursday, August 14th. They issued a “buy” rating and a $260.00 target price for the company. Finally, Stifel Nicolaus increased their target price on shares of SiTime from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $240.00.

SiTime Trading Up 7.6%

NASDAQ:SITM opened at $240.98 on Monday. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $268.18. The company has a 50-day moving average of $210.88 and a 200-day moving average of $184.74. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of -69.25 and a beta of 2.20.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.18. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The company had revenue of $69.49 million during the quarter, compared to analyst estimates of $64.66 million. During the same quarter last year, the firm posted $0.12 EPS. The business’s revenue for the quarter was up 58.3% on a year-over-year basis. On average, research analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current year.

About SiTime

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.