Y Intercept Hong Kong Ltd Acquires New Stake in SiTime Co. (NASDAQ:SITM)

Y Intercept Hong Kong Ltd acquired a new stake in shares of SiTime Co. (NASDAQ:SITM) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,431 shares of the company’s stock, valued at approximately $588,000.

A number of other large investors have also made changes to their positions in SITM. Raymond James & Associates boosted its stake in shares of SiTime by 70.0% during the second quarter. Raymond James & Associates now owns 32,607 shares of the company’s stock valued at $4,056,000 after acquiring an additional 13,421 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after buying an additional 88 shares during the last quarter. Atlas Brown Inc. acquired a new stake in SiTime in the 2nd quarter worth about $259,000. Louisiana State Employees Retirement System boosted its stake in SiTime by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the company’s stock worth $1,107,000 after buying an additional 200 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new stake in SiTime in the 2nd quarter worth about $448,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Buying and Selling

In other SiTime news, insider Piyush B. Sevalia sold 807 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total value of $129,120.00. Following the transaction, the insider now directly owns 87,534 shares of the company’s stock, valued at $14,005,440. This represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $249.42, for a total value of $249,420.00. Following the completion of the transaction, the insider now directly owns 101,683 shares in the company, valued at approximately $25,361,773.86. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,513 shares of company stock valued at $6,708,428. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

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

SiTime Stock Performance

Shares of NASDAQ:SITM opened at $252.61 on Friday. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $268.18. The stock has a market capitalization of $5.90 billion, a P/E ratio of -61.02 and a beta of 1.86. The stock has a 50-day simple moving average of $201.30 and a 200-day simple moving average of $160.67.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (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 return on equity of 9.89% and a negative net margin of 53.55%. The company’s revenue for the quarter was up 62.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.81) EPS. Analysts predict 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.