Peregrine Investment Management Inc. lifted its stake in SiTime Corporation (NASDAQ:SITM - Free Report) by 45.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,870 shares of the company's stock after buying an additional 16,610 shares during the quarter. SiTime makes up about 6.0% of Peregrine Investment Management Inc.'s investment portfolio, making the stock its 6th largest position. Peregrine Investment Management Inc. owned about 0.22% of SiTime worth $8,082,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of SITM. Charles Schwab Investment Management Inc. increased its holdings in SiTime by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,937 shares of the company's stock valued at $36,886,000 after acquiring an additional 6,117 shares during the last quarter. M&T Bank Corp bought a new stake in SiTime in the 4th quarter valued at $235,000. Proficio Capital Partners LLC bought a new stake in SiTime in the 4th quarter valued at $4,418,000. Raymond James Financial Inc. bought a new stake in SiTime in the 4th quarter valued at $7,312,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of SiTime by 15.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 877 shares of the company's stock worth $188,000 after buying an additional 118 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
SITM has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Barclays boosted their target price on shares of SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $224.00.
Check Out Our Latest Stock Analysis on SiTime
SiTime Stock Up 0.6%
NASDAQ:SITM traded up $1.27 during mid-day trading on Wednesday, hitting $205.65. 251,159 shares of the stock traded hands, compared to its average volume of 265,420. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of -54.12 and a beta of 2.20. SiTime Corporation has a 52 week low of $105.40 and a 52 week high of $268.18. The firm's 50 day moving average is $207.68 and its two-hundred day moving average is $188.41.
SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.11 by $0.15. The company had revenue of $60.31 million for the quarter, compared to the consensus estimate of $54.01 million. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. The firm's revenue was up 82.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) EPS. As a group, research analysts predict that SiTime Corporation will post -2.44 EPS for the current year.
Insider Activity at SiTime
In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $210.65, for a total value of $4,213,000.00. Following the completion of the sale, the chief executive officer directly owned 490,320 shares of the company's stock, valued at $103,285,908. The trade was a 3.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tom Dang-Hsing Yiu sold 2,115 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $200.00, for a total transaction of $423,000.00. Following the completion of the sale, the director directly owned 18,500 shares of the company's stock, valued at approximately $3,700,000. This trade represents a 10.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,818 shares of company stock worth $13,171,258 in the last three months. 2.10% of the stock is owned by insiders.
SiTime Profile
(
Free Report)
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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