ProShare Advisors LLC Grows Stock Holdings in SiTime Co. (NASDAQ:SITM)

ProShare Advisors LLC grew its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 46.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,608 shares of the company's stock after purchasing an additional 1,766 shares during the period. ProShare Advisors LLC's holdings in SiTime were worth $1,203,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in SiTime by 11.0% during the 4th 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 raised its stake in SiTime by 27.0% during the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company's stock worth $90,523,000 after acquiring an additional 89,632 shares in the last quarter. Emerald Advisers LLC acquired a new stake in SiTime during the 4th quarter worth $18,673,000. Capital World Investors acquired a new stake in SiTime during the 4th quarter worth $17,654,000. Finally, Driehaus Capital Management LLC raised its stake in SiTime by 24.2% during the 4th 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 in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on SITM. Stifel Nicolaus lifted their price target on shares of SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Barclays lifted their price objective on shares of SiTime from $110.00 to $135.00 and gave the company 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 from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Finally, Needham & Company LLC lifted their price objective on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, SiTime has a consensus rating of "Moderate Buy" and a consensus target price of $215.00.

Insider Activity

In related news, insider Piyush B. Sevalia sold 1,038 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the sale, the insider now owns 92,847 shares of the company's stock, valued at approximately $14,636,401.08. The trade was a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Torsten Kreindl sold 950 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $207.00, for a total transaction of $196,650.00. Following the sale, the director now directly owns 12,561 shares in the company, valued at approximately $2,600,127. This represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,495 shares of company stock valued at $9,500,531 over the last quarter. Corporate insiders own 2.10% of the company's stock.

SiTime Trading Up 2.6%

Shares of NASDAQ:SITM traded up $5.06 during midday trading on Tuesday, hitting $202.65. The stock had a trading volume of 140,185 shares, compared to its average volume of 245,516. The company has a market capitalization of $4.81 billion, a PE ratio of -50.08 and a beta of 2.24. The stock has a 50 day moving average price of $161.94 and a two-hundred day moving average price of $190.88. SiTime Co. has a 1 year low of $105.40 and a 1 year high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.15. The business 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 46.18% and a negative return on equity of 10.12%. The business's quarterly revenue was up 82.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. As a group, equities analysts expect that SiTime Co. will post -2.44 EPS for the current year.

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.