SiTime Co. (NASDAQ:SITM) Position Increased by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 27,559.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 261,102 shares of the company's stock after buying an additional 260,158 shares during the period. GAMMA Investing LLC owned 1.11% of SiTime worth $39,915,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Mutual of America Capital Management LLC boosted its holdings in SiTime by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company's stock valued at $615,000 after acquiring an additional 48 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of SiTime by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company's stock worth $2,307,000 after purchasing an additional 57 shares during the period. Blue Trust Inc. lifted its stake in shares of 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 purchasing an additional 67 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of SiTime by 4.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company's stock worth $417,000 after purchasing an additional 83 shares during the period. Finally, Arizona State Retirement System increased its position in SiTime by 1.9% during the 4th quarter. Arizona State Retirement System now owns 5,368 shares of the company's stock worth $1,152,000 after purchasing an additional 99 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on SITM shares. Stifel Nicolaus lifted their price target on shares of SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Needham & Company LLC raised their target price 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. Barclays upped their price target on shares of SiTime from $110.00 to $135.00 and gave the stock an "underweight" rating in a research report on Thursday, May 8th. Finally, Raymond James reiterated an "outperform" rating and issued a $250.00 price target (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $215.00.

SiTime Trading Up 2.1%

NASDAQ:SITM traded up $4.21 during trading hours on Friday, hitting $204.84. The stock had a trading volume of 74,763 shares, compared to its average volume of 246,470. The company has a market cap of $4.86 billion, a PE ratio of -50.64 and a beta of 2.24. The business has a 50 day simple moving average of $166.29 and a two-hundred day simple moving average of $190.84. 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 announced 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 during 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 period in the prior year, the firm earned ($0.08) earnings per share. Research analysts expect that SiTime Co. will post -2.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Samsheer Ahamad sold 7,728 shares of SiTime stock in a transaction on 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 completion of the sale, the insider now owns 78,095 shares in the company, valued at approximately $16,197,683.95. The trade was a 9.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajesh Vashist sold 20,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were 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 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. Insiders have sold 51,779 shares of company stock worth $10,591,318 in the last quarter. 2.10% of the stock is owned by corporate insiders.

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.