Ethic Inc. Raises Stock Position in SiTime Co. (NASDAQ:SITM)

Ethic Inc. raised its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 152.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,692 shares of the company's stock after purchasing an additional 3,434 shares during the period. Ethic Inc.'s holdings in SiTime were worth $1,221,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Invesco Ltd. boosted its holdings in SiTime by 11.0% in the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company's stock worth $210,921,000 after acquiring an additional 97,062 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in SiTime by 27.0% during the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company's stock valued at $90,523,000 after acquiring an additional 89,632 shares during the period. Emerald Advisers LLC purchased a new stake in shares of SiTime in the 4th quarter valued at approximately $18,673,000. Capital World Investors purchased a new position in SiTime during the 4th quarter worth $17,654,000. Finally, Driehaus Capital Management LLC grew its holdings in SiTime by 24.2% during the fourth quarter. Driehaus Capital Management LLC now owns 385,325 shares of the company's stock worth $82,664,000 after acquiring an additional 75,192 shares during the period. Hedge funds and other institutional investors own 84.31% of the company's stock.

Insider Activity at SiTime

In related news, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the transaction, the insider now directly owns 92,847 shares in the company, valued at approximately $14,636,401.08. This trade represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the sale, the insider now owns 87,940 shares in the company, 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. Over the last ninety days, insiders sold 27,074 shares of company stock worth $5,408,421. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays lifted their price target on shares of SiTime from $110.00 to $135.00 and gave the stock an "underweight" rating in a research note on Thursday, May 8th. Raymond James restated an "outperform" rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC raised their target price on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus increased their target price on SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $215.00.

SiTime Stock Down 2.4%

Shares of NASDAQ:SITM traded down $5.12 during midday trading on Monday, reaching $205.56. 26,356 shares of the company traded hands, compared to its average volume of 244,294. The firm's fifty day moving average price is $158.11 and its two-hundred day moving average price is $190.51. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of -50.97 and a beta of 2.24. SiTime Co. has a 12 month low of $105.40 and a 12 month high of $268.18.

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. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The company had revenue of $60.31 million during the quarter, compared to analyst estimates of $54.01 million. During the same period in the prior year, the business posted ($0.08) EPS. The firm's revenue was up 82.7% compared to the same quarter last year. Analysts forecast that SiTime Co. will post -2.44 earnings per share for the current year.

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.