Y Intercept Hong Kong Ltd Buys Shares of 3,431 SiTime Co. (NASDAQ:SITM)

Y Intercept Hong Kong Ltd purchased a new stake in SiTime Co. (NASDAQ:SITM) in the third quarter, according to its most recent filing with the SEC. The fund purchased 3,431 shares of the company’s stock, valued at approximately $588,000.

Other institutional investors have also made changes to their positions in the company. Signaturefd LLC increased its holdings in shares of SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of SiTime by 59.5% in the 2nd 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 last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of SiTime in the 2nd quarter valued at approximately $49,000. Van ECK Associates Corp bought a new stake in shares of SiTime in the 3rd quarter valued at approximately $123,000. Finally, GAMMA Investing LLC increased its holdings in shares of SiTime by 95.0% in the 3rd 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 last quarter. 84.31% of the stock is currently owned by institutional investors.

SiTime Stock Performance

NASDAQ:SITM opened at $252.61 on Friday. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $268.18. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of -61.02 and a beta of 1.86. The business has a fifty day moving average of $201.30 and a 200-day moving average of $160.67.

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

Wall Street Analyst Weigh In

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

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $249.42, for a total value of $249,420.00. Following the completion of the sale, the insider now owns 101,683 shares in the company, valued at $25,361,773.86. This represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Piyush B. Sevalia sold 807 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.00, for a total value of $129,120.00. Following the completion of the sale, the insider now owns 87,534 shares of the company’s stock, valued at approximately $14,005,440. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,513 shares of company stock valued at $6,708,428. 2.30% of the stock is currently owned by corporate insiders.

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.