Ameriprise Financial Inc. Raises Position in SiTime Co. (NASDAQ:SITM)

Ameriprise Financial Inc. increased its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 16.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 515,735 shares of the company's stock after purchasing an additional 71,658 shares during the period. Ameriprise Financial Inc. owned approximately 2.21% of SiTime worth $110,641,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust purchased a new stake in SiTime during the 4th quarter valued at $8,199,000. Northern Trust Corp increased its position in SiTime by 5.2% during the fourth quarter. Northern Trust Corp now owns 240,050 shares of the company's stock valued at $51,498,000 after acquiring an additional 11,872 shares during the last quarter. Aquatic Capital Management LLC bought a new position in SiTime in the fourth quarter valued at about $192,000. Boothbay Fund Management LLC purchased a new position in SiTime in the fourth quarter worth about $381,000. Finally, Three Seasons Wealth LLC bought a new stake in shares of SiTime during the 4th quarter valued at about $841,000. Institutional investors own 84.31% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Barclays raised their price objective on shares of SiTime from $110.00 to $135.00 and gave the stock an "underweight" rating in a report on Thursday. Needham & Company LLC lifted their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Stifel Nicolaus upped their price objective on SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Raymond James reiterated an "outperform" rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $215.00.

SiTime Stock Performance

Shares of NASDAQ SITM traded up $1.51 during midday trading on Friday, reaching $190.01. The stock had a trading volume of 319,176 shares, compared to its average volume of 242,068. SiTime Co. has a 12-month low of $105.40 and a 12-month high of $268.18. The stock has a 50-day moving average of $154.37 and a 200-day moving average of $189.54. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of -46.92 and a beta of 2.24.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.15. The business had revenue of $60.31 million for the quarter, compared to analysts' expectations of $54.01 million. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The business's quarterly revenue was up 82.7% on a year-over-year basis. During the same period last year, the firm earned ($0.08) earnings per share. As a group, analysts forecast that SiTime Co. will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Fariborz Assaderaghi sold 1,268 shares of SiTime stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $184.92, for a total value of $234,478.56. Following the sale, the insider now directly owns 112,316 shares of the company's stock, valued at approximately $20,769,474.72. The trade was a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the transaction, the insider now directly owns 87,940 shares of the company's stock, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,074 shares of company stock valued at $1,195,421. Corporate insiders own 2.10% of the company's stock.

About SiTime

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.