Oak Ridge Investments LLC Has $3.83 Million Position in SiTime Co. (NASDAQ:SITM)

Oak Ridge Investments LLC trimmed its position in shares of SiTime Co. (NASDAQ:SITM) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,846 shares of the company’s stock after selling 1,799 shares during the quarter. Oak Ridge Investments LLC owned approximately 0.08% of SiTime worth $3,829,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC boosted its position in SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after buying an additional 60 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of SiTime by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock worth $2,524,000 after purchasing an additional 94 shares during the last quarter. Amalgamated Bank increased its holdings in SiTime by 2.3% in the third quarter. Amalgamated Bank now owns 5,509 shares of the company’s stock valued at $945,000 after purchasing an additional 122 shares during the period. Louisiana State Employees Retirement System raised its position in SiTime by 2.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the company’s stock worth $1,561,000 after purchasing an additional 200 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in SiTime by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 944 shares of the company’s stock worth $203,000 after buying an additional 201 shares during the period. 84.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SITM shares. Roth Mkm increased their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays increased their target price on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday. Stifel Nicolaus boosted their price target on shares of SiTime from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, 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 report on Thursday, November 7th.

Insider Activity

In other news, CEO Rajesh Vashist sold 12,000 shares of the company’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 transaction, the chief executive officer now directly owns 24,781 shares of the company’s stock, valued at $6,424,474.25. This represents a 32.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Fariborz Assaderaghi sold 363 shares of SiTime stock in a transaction on Monday, November 25th. The shares were sold at an average price of $216.25, for a total transaction of $78,498.75. Following the completion of the sale, the insider now directly owns 104,322 shares of the company’s stock, valued at approximately $22,559,632.50. The trade was a 0.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,931 shares of company stock worth $7,017,644. Company insiders own 2.30% of the company’s stock.

SiTime Trading Up 3.3 %

Shares of SITM stock opened at $250.97 on Friday. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18. The stock has a 50 day simple moving average of $224.50 and a two-hundred day simple moving average of $179.61.

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

SiTime Company 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.