Raymond James & Associates lifted its stake in SiTime Co. (NASDAQ:SITM – Free Report) by 251.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,410 shares of the company’s stock after buying an additional 12,460 shares during the period. Raymond James & Associates owned about 0.08% of SiTime worth $2,054,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Mackenzie Financial Corp lifted its stake in shares of SiTime by 8.1% in the first quarter. Mackenzie Financial Corp now owns 811 shares of the company’s stock valued at $201,000 after buying an additional 61 shares during the period. Yousif Capital Management LLC lifted its stake in shares of SiTime by 1.2% in the first quarter. Yousif Capital Management LLC now owns 8,091 shares of the company’s stock valued at $2,005,000 after buying an additional 98 shares during the period. State of Michigan Retirement System lifted its stake in shares of SiTime by 2.5% in the first quarter. State of Michigan Retirement System now owns 4,100 shares of the company’s stock valued at $583,000 after buying an additional 100 shares during the period. KBC Group NV raised its position in SiTime by 20.1% in the first quarter. KBC Group NV now owns 728 shares of the company’s stock worth $104,000 after purchasing an additional 122 shares in the last quarter. Finally, Baird Financial Group Inc. raised its position in SiTime by 2.0% in the third quarter. Baird Financial Group Inc. now owns 6,386 shares of the company’s stock worth $502,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently issued reports on SITM shares. Barclays increased their price target on shares of SiTime from $88.00 to $110.00 in a research report on Thursday, July 20th. Stifel Nicolaus increased their price target on shares of SiTime from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. Raymond James increased their price target on shares of SiTime from $130.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Finally, Wolfe Research began coverage on shares of SiTime in a research report on Wednesday, July 19th. They issued an “outperform” rating and a $160.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.43.
Insider Activity at SiTime
In other SiTime news, CFO Arthur D. Chadwick sold 11,465 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $137.58, for a total value of $1,577,354.70. Following the transaction, the chief financial officer now directly owns 49,060 shares of the company’s stock, valued at $6,749,674.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Arthur D. Chadwick sold 5,114 shares of SiTime stock in a transaction on Monday, August 28th. The shares were sold at an average price of $127.01, for a total transaction of $649,529.14. Following the transaction, the chief financial officer now directly owns 38,912 shares of the company’s stock, valued at $4,942,213.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Arthur D. Chadwick sold 11,465 shares of SiTime stock in a transaction on Friday, August 4th. The stock was sold at an average price of $137.58, for a total transaction of $1,577,354.70. Following the transaction, the chief financial officer now directly owns 49,060 shares in the company, valued at $6,749,674.80. The disclosure for this sale can be found here. Insiders sold a total of 24,541 shares of company stock valued at $3,251,498 over the last quarter. Corporate insiders own 1.60% of the company’s stock.
SiTime Trading Down 2.5 %
NASDAQ SITM opened at $96.47 on Tuesday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -55.44 and a beta of 1.90. The company has a 50 day moving average of $115.37 and a 200-day moving average of $114.64. SiTime Co. has a 1-year low of $76.61 and a 1-year high of $142.88.
SiTime (NASDAQ:SITM – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.18). The company had revenue of $27.73 million during the quarter, compared to analyst estimates of $26.51 million. SiTime had a negative net margin of 19.08% and a negative return on equity of 5.40%. On average, analysts forecast that SiTime Co. will post -3.12 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, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.
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