State Street Corp Buys 27,692 Shares of SiTime Co. (NASDAQ:SITM)

State Street Corp raised its stake in shares of SiTime Co. (NASDAQ:SITM) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 922,974 shares of the company’s stock after purchasing an additional 27,692 shares during the quarter. State Street Corp owned 3.95% of SiTime worth $158,299,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SITM. Signaturefd LLC increased its stake in SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Nisa Investment Advisors LLC increased its stake in SiTime by 59.5% in the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in SiTime in the second quarter valued at about $49,000. Van ECK Associates Corp bought a new stake in SiTime in the third quarter valued at about $123,000. Finally, GAMMA Investing LLC increased its stake in SiTime by 95.0% in the third quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock valued at $127,000 after acquiring an additional 362 shares during the period. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Down 1.9 %

NASDAQ:SITM opened at $252.61 on Friday. The firm has a market cap of $5.90 billion, a PE ratio of -61.02 and a beta of 1.86. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $268.18. The company’s 50-day moving average price is $199.83 and its two-hundred day moving average price is $159.79.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The firm had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The company’s revenue for the quarter was up 62.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.81) earnings per share. On average, research analysts expect that SiTime Co. will post -2.98 EPS for the current fiscal year.

Analysts Set New Price Targets

SITM has been the topic of a number of analyst reports. Stifel Nicolaus upped their target price on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Roth Mkm upped their target price on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays upped their target price on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC boosted their price target on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Insider Transactions at SiTime

In other news, Director Torsten Kreindl sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the transaction, the director now directly owns 13,511 shares in the company, valued at approximately $2,984,039.46. This represents a 30.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Piyush B. Sevalia sold 807 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total transaction of $129,120.00. Following the sale, the insider now directly owns 87,534 shares of the company’s stock, valued at approximately $14,005,440. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,513 shares of company stock worth $6,708,428. Corporate insiders own 2.30% of the company’s stock.

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.