8,011 Shares in SiTime Corporation (NASDAQ:SITM) Bought by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new position in SiTime Corporation (NASDAQ:SITM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,011 shares of the company's stock, valued at approximately $1,225,000.

A number of other institutional investors have also modified their holdings of SITM. GAMMA Investing LLC boosted its holdings in SiTime by 27,559.1% in the first quarter. GAMMA Investing LLC now owns 261,102 shares of the company's stock worth $39,915,000 after acquiring an additional 260,158 shares in the last quarter. Invesco Ltd. raised its stake in shares of SiTime by 11.0% during the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company's stock valued at $210,921,000 after buying an additional 97,062 shares during the last quarter. Hood River Capital Management LLC boosted its position in SiTime by 27.0% in the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company's stock worth $90,523,000 after purchasing an additional 89,632 shares in the last quarter. Capital World Investors purchased a new position in SiTime in the fourth quarter valued at $17,654,000. Finally, Driehaus Capital Management LLC raised its holdings in SiTime by 24.2% in the 4th quarter. Driehaus Capital Management LLC now owns 385,325 shares of the company's stock worth $82,664,000 after purchasing an additional 75,192 shares during the period. 84.31% of the stock is currently owned by institutional investors.

SiTime Price Performance

Shares of SiTime stock traded up $5.20 on Monday, reaching $198.29. 55,739 shares of the company were exchanged, compared to its average volume of 315,336. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $268.18. The stock's 50 day moving average price is $207.89 and its 200-day moving average price is $185.44. The company has a market cap of $4.70 billion, a P/E ratio of -52.41 and a beta of 2.20.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.11 by $0.15. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. The firm had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. During the same period last year, the business earned ($0.08) EPS. SiTime's revenue for the quarter was up 82.7% compared to the same quarter last year. On average, research analysts predict that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling at SiTime

In other SiTime news, insider Samsheer Ahamad sold 7,728 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $207.41, for a total value of $1,602,864.48. Following the transaction, the insider directly owned 78,095 shares in the company, valued at approximately $16,197,683.95. This represents a 9.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajesh Vashist sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was 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 directly owned 490,320 shares in the company, valued at $103,285,908. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,551 shares of company stock valued at $13,413,996. Insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Barclays boosted their target price on shares of SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 11th. Stifel Nicolaus raised their price target on shares of SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $228.00.

SiTime Company 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.