Millennium Management LLC Has $1.58 Million Stake in SiTime Co. (NASDAQ:SITM)

Millennium Management LLC increased its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 205.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,344 shares of the company's stock after buying an additional 4,936 shares during the quarter. Millennium Management LLC's holdings in SiTime were worth $1,576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SITM. Barclays PLC lifted its position in shares of SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after buying an additional 16,964 shares during the period. Blue Trust Inc. lifted its position in shares of SiTime by 118.0% during the 4th quarter. Blue Trust Inc. now owns 327 shares of the company's stock worth $70,000 after buying an additional 177 shares during the period. State of Alaska Department of Revenue lifted its position in shares of SiTime by 0.5% during the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company's stock worth $2,307,000 after buying an additional 57 shares during the period. Legato Capital Management LLC raised its position in SiTime by 111.2% in the 4th quarter. Legato Capital Management LLC now owns 5,450 shares of the company's stock valued at $1,169,000 after purchasing an additional 2,870 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in SiTime by 256.2% in the 4th quarter. Van ECK Associates Corp now owns 2,429 shares of the company's stock valued at $521,000 after purchasing an additional 1,747 shares during the last quarter. Institutional investors own 84.31% of the company's stock.

SiTime Price Performance

Shares of NASDAQ SITM traded up $5.21 during midday trading on Friday, hitting $205.84. The stock had a trading volume of 131,266 shares, compared to its average volume of 247,141. The company's 50-day simple moving average is $167.32 and its 200 day simple moving average is $190.82. The firm has a market cap of $4.88 billion, a P/E ratio of -50.82 and a beta of 2.24. SiTime Co. has a fifty-two week low of $105.40 and a fifty-two week high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.15. The firm had revenue of $60.31 million during 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 company's quarterly revenue was up 82.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) EPS. Equities analysts expect that SiTime Co. will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction 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 now directly owns 490,320 shares of the company's stock, valued at $103,285,908. The trade was a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vincent P. Pangrazio sold 5,026 shares of SiTime stock in a transaction on Monday, May 19th. The stock was sold at an average price of $204.55, for a total value of $1,028,068.30. Following the sale, the insider now directly owns 64,842 shares of the company's stock, valued at approximately $13,263,431.10. This trade represents a 7.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,779 shares of company stock valued at $10,591,318 over the last ninety days. Insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Barclays lifted their price objective on SiTime from $110.00 to $135.00 and gave the company an "underweight" rating in a research report on Thursday, May 8th. Stifel Nicolaus lifted their price objective on SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $215.00.

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.