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

ProShare Advisors LLC boosted its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 46.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 large investors also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after buying an additional 67 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of SiTime during the fourth quarter valued at approximately $58,000. Smartleaf Asset Management LLC raised its position in shares of SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after acquiring an additional 206 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of SiTime in the 4th quarter valued at about $81,000. Finally, AlphaQuest LLC grew its holdings in SiTime by 8,460.0% during the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after acquiring an additional 423 shares during the period. 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 analyst reports. Needham & Company LLC raised their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Barclays increased their price target on shares of SiTime from $110.00 to $135.00 and gave the company an "underweight" rating in a report on Thursday, May 8th. Stifel Nicolaus boosted their price objective on shares of SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Raymond James restated an "outperform" rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $215.00.

Insiders Place Their Bets

In related news, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the sale, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. The trade was a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,267 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $147.80, for a total value of $187,262.60. Following the transaction, the insider now directly owns 113,584 shares of the company's stock, valued at $16,787,715.20. This represents a 1.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,495 shares of company stock worth $9,500,531 in the last ninety days. 2.10% of the stock is currently owned by insiders.

SiTime Trading Down 2.2%

NASDAQ SITM traded down $4.48 during mid-day trading on Wednesday, hitting $195.74. The company's stock had a trading volume of 45,666 shares, compared to its average volume of 245,169. The company's 50 day simple moving average is $162.40 and its 200 day simple moving average is $190.94. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of -48.33 and a beta of 2.24. SiTime Co. has a twelve month low of $105.40 and a twelve month 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 EPS for the quarter, topping the consensus estimate of $0.11 by $0.15. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The business had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. The company's revenue for the quarter was up 82.7% on a year-over-year basis. As a group, research analysts forecast that SiTime Co. will post -2.44 EPS for the current year.

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.