Virtu Financial LLC Takes Position in SiTime Co. (NASDAQ:SITM)

Virtu Financial LLC acquired a new position in shares of SiTime Co. (NASDAQ:SITM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,191 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SITM. Signaturefd LLC boosted its stake in shares of SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in SiTime by 59.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after acquiring an additional 88 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in SiTime in the 2nd quarter valued at approximately $49,000. Van ECK Associates Corp bought a new position in shares of SiTime during the third quarter valued at $123,000. Finally, nVerses Capital LLC acquired a new position in shares of SiTime during the second quarter worth $124,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Price Performance

Shares of SiTime stock opened at $226.69 on Thursday. The stock’s 50-day moving average is $204.89 and its 200 day moving average is $163.33. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of -54.76 and a beta of 1.86.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The company had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. During the same quarter last year, the firm posted ($0.81) EPS. The company’s quarterly revenue was up 62.4% on a year-over-year basis. On average, sell-side analysts expect that SiTime Co. will post -2.98 EPS for the current fiscal year.

Insider Buying and Selling at SiTime

In other news, CEO Rajesh Vashist sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $259.25, for a total transaction of $3,111,000.00. Following the completion of the sale, the chief executive officer now owns 24,781 shares in the company, valued at $6,424,474.25. The trade was a 32.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vincent P. Pangrazio sold 3,064 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $255.00, for a total value of $781,320.00. Following the completion of the transaction, the insider now owns 65,978 shares in the company, valued at approximately $16,824,390. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,270 shares of company stock valued at $7,202,728. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on SITM shares. Barclays increased their price objective on SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Needham & Company LLC increased their price target on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted 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. Finally, Roth Mkm increased their target price on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

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.