Two Sigma Investments LP Has $5.90 Million Position in SiTime Co. (NASDAQ:SITM)

Two Sigma Investments LP trimmed its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 26.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,502 shares of the company's stock after selling 9,854 shares during the period. Two Sigma Investments LP owned 0.12% of SiTime worth $5,900,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC acquired a new stake in shares of SiTime in the fourth quarter valued at $217,000. Sherbrooke Park Advisers LLC bought a new stake in SiTime during the 4th quarter worth about $249,000. ProShare Advisors LLC grew its holdings in SiTime by 46.0% during the 4th quarter. ProShare Advisors LLC now owns 5,608 shares of the company's stock worth $1,203,000 after acquiring an additional 1,766 shares during the last quarter. Millennium Management LLC increased its position in SiTime by 205.0% in the 4th quarter. Millennium Management LLC now owns 7,344 shares of the company's stock valued at $1,576,000 after acquiring an additional 4,936 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of SiTime in the fourth quarter worth about $81,000. Institutional investors own 84.31% of the company's stock.

SiTime Trading Down 0.3%

Shares of SITM traded down $0.54 on Friday, reaching $196.54. 151,530 shares of the company's stock were exchanged, compared to its average volume of 245,430. The business has a 50 day moving average price of $162.96 and a two-hundred day moving average price of $190.86. SiTime Co. has a 12 month low of $105.40 and a 12 month high of $268.18. The stock has a market capitalization of $4.66 billion, a P/E ratio of -48.52 and a beta of 2.24.

SiTime (NASDAQ:SITM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.15. The firm had revenue of $60.31 million during the quarter, compared to analyst estimates 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 business earned ($0.08) EPS. Equities research analysts predict that SiTime Co. will post -2.44 EPS for the current year.

Insider Activity at SiTime

In other news, CEO Rajesh Vashist sold 20,000 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lionel Bonnot sold 1,991 shares of SiTime stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $201.36, for a total transaction of $400,907.76. Following the completion of the sale, the insider now owns 82,579 shares in the company, valued at $16,628,107.44. This trade represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,495 shares of company stock worth $9,500,531 in the last quarter. Corporate insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Needham & Company LLC increased their price target 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. Raymond James reaffirmed an "outperform" rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Stifel Nicolaus lifted their target price on SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Barclays boosted their target price on SiTime from $110.00 to $135.00 and gave the stock an "underweight" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $215.00.

About SiTime

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.