Ethic Inc. Buys 3,434 Shares of SiTime Co. (NASDAQ:SITM)

Ethic Inc. lifted its stake in SiTime Co. (NASDAQ:SITM - Free Report) by 152.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,692 shares of the company's stock after acquiring an additional 3,434 shares during the quarter. Ethic Inc.'s holdings in SiTime were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Barclays PLC raised its position in SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after purchasing an additional 16,964 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after acquiring an additional 206 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in shares of SiTime during the fourth quarter worth $538,000. Proficio Capital Partners LLC bought a new position in shares of SiTime during the fourth quarter worth $4,418,000. Finally, M&T Bank Corp acquired a new stake in shares of SiTime during the fourth quarter worth $235,000. 84.31% of the stock is currently owned by institutional investors.

Insider Transactions at SiTime

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the business's stock in a transaction dated 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 in the company, valued at $15,323,545. The trade was a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajesh Vashist sold 20,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $210.65, for a total transaction of $4,213,000.00. Following the completion of the sale, the chief executive officer now directly owns 490,320 shares in the company, valued at approximately $103,285,908. This trade represents a 3.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,074 shares of company stock valued at $5,408,421 over the last three months. Corporate insiders own 2.30% of the company's stock.

SiTime Stock Up 2.3%

Shares of SITM stock traded up $4.67 during trading hours on Friday, hitting $210.67. 352,049 shares of the company's stock traded hands, compared to its average volume of 244,549. SiTime Co. has a 12 month low of $105.40 and a 12 month high of $268.18. The stock's 50 day simple moving average is $158.11 and its 200 day simple moving average is $190.30. The stock has a market cap of $5.00 billion, a PE ratio of -52.02 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 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.15. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The firm had revenue of $60.31 million during the quarter, compared to the consensus estimate of $54.01 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. The business's revenue was up 82.7% compared to the same quarter last year. As a group, equities research analysts expect that SiTime Co. will post -2.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SITM has been the topic of several recent research reports. Stifel Nicolaus lifted their price target on shares of SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Needham & Company LLC boosted their price objective on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Barclays boosted their price objective on shares of SiTime from $110.00 to $135.00 and gave the company an "underweight" rating in a report on Thursday, May 8th. Finally, Raymond James reaffirmed an "outperform" rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $215.00.

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.