Swedbank AB Buys 5,000 Shares of SiTime Co. (NASDAQ:SITM)

Swedbank AB lifted its stake in shares of SiTime Co. (NASDAQ:SITM) by 21.7% in the third quarter, HoldingsChannel reports. The fund owned 28,000 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Swedbank AB’s holdings in SiTime were worth $4,802,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SITM. CANADA LIFE ASSURANCE Co increased its stake in shares of SiTime by 31.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company’s stock worth $1,712,000 after purchasing an additional 4,410 shares in the last quarter. LMR Partners LLP increased its stake in SiTime by 705.0% in the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after buying an additional 70,500 shares in the last quarter. Vanguard Group Inc. raised its holdings in SiTime by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after acquiring an additional 85,800 shares during the period. Public Sector Pension Investment Board raised its holdings in SiTime by 8.0% during the second quarter. Public Sector Pension Investment Board now owns 38,743 shares of the company’s stock valued at $4,819,000 after acquiring an additional 2,861 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of SiTime by 47.0% in the first quarter. Russell Investments Group Ltd. now owns 7,754 shares of the company’s stock valued at $723,000 after acquiring an additional 2,480 shares in the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Stock Performance

NASDAQ SITM opened at $204.85 on Thursday. The stock has a 50 day moving average price of $186.27 and a 200-day moving average price of $151.95. SiTime Co. has a one year low of $72.39 and a one year high of $228.12. The company has a market capitalization of $4.79 billion, a P/E ratio of -49.48 and a beta of 1.83.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The business 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 business’s revenue was up 62.4% on a year-over-year basis. During the same period last year, the company posted ($0.81) EPS. As a group, equities analysts predict that SiTime Co. will post -2.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Fariborz Assaderaghi sold 363 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $216.25, for a total transaction of $78,498.75. Following the transaction, the insider now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rajesh Vashist sold 20,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $170.07, for a total value of $3,401,400.00. Following the sale, the chief executive officer now owns 424,417 shares in the company, valued at $72,180,599.19. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,514 shares of company stock valued at $6,382,144 over the last ninety days. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SITM. Roth Mkm increased their target price on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus lifted 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. Needham & Company LLC upped their target price 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. Finally, Barclays lifted their price target on shares of SiTime from $90.00 to $130.00 and gave the company 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.