Sei Investments Co. Buys Shares of 10,481 SiTime Co. (NASDAQ:SITM)


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Sei Investments Co. acquired a new stake in shares of SiTime Co. (NASDAQ:SITM) during the third quarter, according to its most recent filing with the SEC. The fund acquired 10,481 shares of the company’s stock, valued at approximately $881,000. Sei Investments Co. owned 0.06% of SiTime as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in SITM. FMR LLC bought a new stake in shares of SiTime during the 2nd quarter valued at $75,786,000. Driehaus Capital Management LLC boosted its holdings in shares of SiTime by 54.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 748,383 shares of the company’s stock worth $35,481,000 after purchasing an additional 265,125 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of SiTime by 71.3% in the 3rd quarter. BlackRock Inc. now owns 620,018 shares of the company’s stock worth $52,100,000 after purchasing an additional 257,980 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of SiTime in the 2nd quarter worth about $8,164,000. Finally, Gilder Gagnon Howe & Co. LLC boosted its holdings in shares of SiTime by 427.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 209,341 shares of the company’s stock worth $9,925,000 after purchasing an additional 169,670 shares in the last quarter. Institutional investors own 54.07% of the company’s stock.

In other news, CFO Arthur D. Chadwick sold 25,000 shares of the business’s stock in a transaction on Monday, November 30th. The shares were sold at an average price of $87.54, for a total transaction of $2,188,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lionel Bonnot sold 673 shares of the company’s stock in a transaction on Tuesday, December 15th. The shares were sold at an average price of $110.00, for a total transaction of $74,030.00. The disclosure for this sale can be found here. Insiders have sold 90,810 shares of company stock worth $8,466,621 over the last three months. Corporate insiders own 0.80% of the company’s stock.

Shares of SITM stock opened at $111.93 on Friday. The business’s fifty day simple moving average is $98.75 and its 200-day simple moving average is $75.55. The company has a market cap of $1.90 billion and a PE ratio of -177.67. SiTime Co. has a 12-month low of $15.42 and a 12-month high of $118.60.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. The company had revenue of $32.67 million for the quarter, compared to analysts’ expectations of $31.50 million. As a group, sell-side analysts forecast that SiTime Co. will post -0.67 earnings per share for the current year.

A number of research firms have commented on SITM. Zacks Investment Research lowered SiTime from a “buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Needham & Company LLC raised their price target on SiTime from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Roth Capital reaffirmed a “buy” rating and issued a $130.00 target price (up from $110.00) on shares of SiTime in a report on Wednesday. Finally, Raymond James lifted their price target on SiTime from $80.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $82.00.

SiTime Company Profile

SiTime Corporation, a semiconductor company, provides silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. Its products include resonators and clock integrated circuits, programmable OCXOs, precision MHz super-TCXOs, MHz oscillators, 32.768 kHz oscillators, µPower oscillators 1 Hz to 26 MHz, ruggedized oscillators, and embedded resonators.

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Institutional Ownership by Quarter for SiTime (NASDAQ:SITM)

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