Public Sector Pension Investment Board Has $6.82 Million Stock Position in SiTime Co. (NASDAQ:SITM)

Public Sector Pension Investment Board lifted its holdings in SiTime Co. (NASDAQ:SITM) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,743 shares of the company’s stock after acquiring an additional 1,000 shares during the period. Public Sector Pension Investment Board’s holdings in SiTime were worth $6,816,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Signaturefd LLC increased its holdings in shares of SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after purchasing an additional 60 shares during the period. Nisa Investment Advisors LLC raised its holdings in 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of SiTime by 281.0% during the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after acquiring an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of SiTime during the 2nd quarter worth $49,000. Finally, Van ECK Associates Corp bought a new position in shares of SiTime in the third quarter worth $123,000. 84.31% of the stock is owned by institutional investors.

SiTime Price Performance

Shares of SiTime stock opened at $212.38 on Friday. The company’s 50 day moving average price is $187.98 and its two-hundred day moving average price is $153.11. The firm has a market capitalization of $4.96 billion, a P/E ratio of -51.30 and a beta of 1.83. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $228.12.

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

Insider Activity at SiTime

In related news, CEO Rajesh Vashist sold 20,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $170.07, for a total value of $3,401,400.00. Following the completion of the sale, the chief executive officer now directly owns 424,417 shares in the company, valued at $72,180,599.19. This represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 363 shares of SiTime stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $216.25, for a total value of $78,498.75. Following the transaction, the insider now directly owns 104,322 shares in the company, valued at $22,559,632.50. The trade was a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,514 shares of company stock worth $6,382,144 in the last quarter. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.