GAMMA Investing LLC Grows Position in SiTime Corporation $SITM

Key Points

• GAMMA Investing LLC increased its holdings in SiTime Corporation by 53.5%, bringing its total shares to 2,622 valued at approximately $559,000.
• Several institutional investors, including Millennium Management and Wellington Management Group, also significantly increased their stakes in SiTime during the fourth quarter.
• Analysts have a consensus rating of "Moderate Buy" for SiTime, with a current average price target of $258.33, and several firms have recently adjusted their price targets upwards.

GAMMA Investing LLC raised its stake in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 53.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,622 shares of the company's stock after acquiring an additional 914 shares during the period. GAMMA Investing LLC's holdings in SiTime were worth $559,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SITM. Millennium Management LLC grew its holdings in shares of SiTime by 205.0% in the fourth quarter. Millennium Management LLC now owns 7,344 shares of the company's stock valued at $1,576,000 after acquiring an additional 4,936 shares in the last quarter. Tidal Investments LLC bought a new stake in SiTime during the fourth quarter worth $217,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in SiTime by 20.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,389 shares of the company's stock valued at $9,523,000 after purchasing an additional 7,475 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of SiTime during the 4th quarter valued at $6,733,000. Finally, Wellington Management Group LLP increased its position in shares of SiTime by 36.4% during the 4th quarter. Wellington Management Group LLP now owns 195,573 shares of the company's stock valued at $41,956,000 after purchasing an additional 52,221 shares during the last quarter. Institutional investors own 84.31% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on SITM. UBS Group began coverage on shares of SiTime in a research report on Thursday, August 14th. They set a "buy" rating and a $260.00 price target for the company. Raymond James Financial restated an "outperform" rating and set a $270.00 price target (up previously from $250.00) on shares of SiTime in a research note on Friday, August 29th. Barclays upped their price objective on SiTime from $180.00 to $220.00 and gave the company an "underweight" rating in a research note on Thursday, August 7th. Finally, Stifel Nicolaus increased their price objective on SiTime from $230.00 to $320.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $258.33.

Insider Buying and Selling

In related news, insider Samsheer Ahamad sold 6,000 shares of the business's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $250.00, for a total transaction of $1,500,000.00. Following the sale, the insider directly owned 61,888 shares in the company, valued at approximately $15,472,000. The trade was a 8.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Fariborz Assaderaghi sold 3,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $234.00, for a total value of $702,000.00. Following the sale, the insider directly owned 93,433 shares in the company, valued at $21,863,322. This trade represents a 3.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,367 shares of company stock valued at $7,258,713 in the last ninety days. 2.10% of the stock is owned by company insiders.

SiTime Stock Up 0.2%

NASDAQ SITM opened at $294.36 on Friday. The firm has a market cap of $7.65 billion, a P/E ratio of -84.59 and a beta of 2.18. The company's 50 day moving average is $234.00 and its 200-day moving average is $199.90. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $319.00.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.18. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The business had revenue of $69.49 million during the quarter, compared to analyst estimates of $64.66 million. During the same period in the previous year, the business earned $0.12 EPS. SiTime's revenue was up 58.3% compared to the same quarter last year. Equities analysts expect that SiTime Corporation will post -2.44 EPS for the current year.

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.

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