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

Swedbank AB increased its holdings in SiTime Co. (NASDAQ:SITM) by 21.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,000 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. Swedbank AB owned approximately 0.12% of SiTime worth $4,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Signaturefd LLC grew its position in shares of SiTime by 67.4% in 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 last quarter. 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 worth $29,000 after purchasing an additional 88 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of SiTime by 281.0% in the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after purchasing an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of SiTime during the 2nd quarter valued at about $49,000. Finally, Van ECK Associates Corp purchased a new position in shares of SiTime during the third quarter valued at about $123,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SITM shares. Stifel Nicolaus lifted their price target on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Roth Mkm boosted their price objective on shares of 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 target price on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC boosted their price target on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

SiTime Stock Performance

NASDAQ:SITM opened at $204.85 on Thursday. The firm has a market cap of $4.79 billion, a P/E ratio of -49.48 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. The firm has a 50-day simple moving average of $186.27 and a two-hundred day simple moving average of $151.95.

SiTime (NASDAQ:SITM) last announced 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. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The company had revenue of $57.70 million during the quarter, compared to analyst estimates of $55.10 million. During the same period in the previous year, the business earned ($0.81) EPS. The firm’s revenue for the quarter was up 62.4% on a year-over-year basis. On average, equities research analysts predict that SiTime Co. will post -2.98 EPS for the current year.

Insider Transactions at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 807 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.00, for a total transaction of $129,120.00. Following the completion of the sale, the insider now directly owns 87,534 shares in the company, valued at approximately $14,005,440. The trade was a 0.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 363 shares of the stock in a transaction on Monday, November 25th. The shares were 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 35,514 shares of company stock worth $6,382,144 over the last quarter. 2.30% of the stock is currently owned by insiders.

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.