Fmr LLC Purchases 39,119 Shares of SiTime Co. (NASDAQ:SITM)

Fmr LLC lifted its stake in shares of SiTime Co. (NASDAQ:SITM) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,469,843 shares of the company’s stock after acquiring an additional 39,119 shares during the period. Fmr LLC owned approximately 14.85% of SiTime worth $595,113,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SITM. Driehaus Capital Management LLC bought a new stake in shares of SiTime during the second quarter worth $16,831,000. Vanguard Group Inc. increased its position in shares of SiTime by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after acquiring an additional 85,800 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of SiTime by 62.0% during the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after acquiring an additional 79,648 shares in the last quarter. F M Investments LLC acquired a new position in SiTime during the second quarter worth $8,909,000. Finally, LMR Partners LLP boosted its holdings in SiTime by 705.0% during the third quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after purchasing an additional 70,500 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Price Performance

Shares of SITM stock opened at $204.85 on Friday. The stock has a market cap of $4.79 billion, a P/E ratio of -49.48 and a beta of 1.83. The company has a fifty day moving average price of $187.01 and a two-hundred day moving average price of $152.31. SiTime Co. has a one year low of $72.39 and a one year high of $228.12.

SiTime (NASDAQ:SITM) last announced 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 during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted ($0.81) earnings per share. As a group, equities research analysts anticipate that SiTime Co. will post -2.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SITM. Stifel Nicolaus increased their target price on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Roth Mkm increased their target price on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays increased their target price on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Finally, Needham & Company LLC increased their target price on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Insider Buying and Selling at SiTime

In other news, insider Fariborz Assaderaghi sold 1,003 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $140.00, for a total transaction of $140,420.00. Following the completion of the sale, the insider now owns 111,581 shares in the company, valued at approximately $15,621,340. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Torsten Kreindl sold 6,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the sale, the director now owns 13,511 shares of the company’s stock, valued at approximately $2,984,039.46. This represents a 30.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,514 shares of company stock worth $6,382,144 over the last quarter. 2.30% of the stock is currently owned by insiders.

SiTime 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.