SiTime Corporation $SITM Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in SiTime Corporation by 41.9%, acquiring an additional 82,017 shares, bringing their total ownership to 277,590 shares valued at approximately $42.4 million.
• Several institutional investors, including GAMMA Investing LLC and Neuberger Berman Group LLC, made significant increases in their holdings of SiTime in the first quarter.
• SiTime's stocks saw a jump of 7.6%, with recent earnings surpassing estimates; reporting $0.47 earnings per share and a revenue increase of 58.3% year-over-year.

Wellington Management Group LLP increased its holdings in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 41.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 277,590 shares of the company's stock after buying an additional 82,017 shares during the period. Wellington Management Group LLP owned about 1.17% of SiTime worth $42,435,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of SiTime by 27,559.1% in the 1st quarter. GAMMA Investing LLC now owns 261,102 shares of the company's stock valued at $39,915,000 after purchasing an additional 260,158 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of SiTime by 360.8% in the 1st quarter. Neuberger Berman Group LLC now owns 135,211 shares of the company's stock valued at $20,670,000 after purchasing an additional 105,868 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of SiTime by 24.2% in the 4th quarter. Driehaus Capital Management LLC now owns 385,325 shares of the company's stock valued at $82,664,000 after purchasing an additional 75,192 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of SiTime by 16.1% in the 4th quarter. Ameriprise Financial Inc. now owns 515,735 shares of the company's stock valued at $110,641,000 after purchasing an additional 71,658 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of SiTime in the 1st quarter valued at $7,898,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Samsheer Ahamad sold 4,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $200.00, for a total value of $800,000.00. Following the completion of the sale, the insider owned 72,021 shares in the company, valued at approximately $14,404,200. This trade represents a 5.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,000 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $201.36, for a total transaction of $201,360.00. Following the completion of the sale, the insider owned 101,319 shares of the company's stock, valued at $20,401,593.84. This trade represents a 0.98% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,861 shares of company stock worth $5,006,357. 2.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SITM. Barclays raised their price objective on shares of SiTime from $180.00 to $220.00 and gave the company an "underweight" rating in a report on Thursday, August 7th. UBS Group began coverage on shares of SiTime in a report on Thursday, August 14th. They issued a "buy" rating and a $260.00 price objective on the stock. Finally, Stifel Nicolaus raised their price objective on shares of SiTime from $210.00 to $230.00 and gave the company a "buy" rating in a report on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SiTime has an average rating of "Moderate Buy" and an average target price of $240.00.

SiTime Trading Up 6.2%

Shares of NASDAQ SITM traded up $14.31 during mid-day trading on Tuesday, reaching $245.94. The company had a trading volume of 538,116 shares, compared to its average volume of 414,795. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $268.18. The stock has a market cap of $6.39 billion, a P/E ratio of -70.67 and a beta of 2.20. The firm has a 50 day simple moving average of $211.65 and a two-hundred day simple moving average of $185.52.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.18. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The company had revenue of $69.49 million for the quarter, compared to the consensus estimate of $64.66 million. During the same period last year, the firm posted $0.12 EPS. SiTime's revenue for the quarter was up 58.3% on a year-over-year basis. On average, equities analysts expect that SiTime Corporation will post -2.44 EPS for the current year.

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.