First Trust Advisors LP Grows Position in SiTime Co. (NASDAQ:SITM)

First Trust Advisors LP boosted its position in SiTime Co. (NASDAQ:SITM - Free Report) by 56.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,950 shares of the company's stock after purchasing an additional 7,225 shares during the period. First Trust Advisors LP owned about 0.09% of SiTime worth $4,280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SITM. Barclays PLC raised its position in shares of SiTime by 80.7% during the third quarter. Barclays PLC now owns 37,982 shares of the company's stock valued at $6,515,000 after buying an additional 16,964 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after acquiring an additional 206 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in SiTime in the 4th quarter worth $538,000. Proficio Capital Partners LLC bought a new position in shares of SiTime during the 4th quarter valued at about $4,418,000. Finally, Principal Financial Group Inc. grew its position in shares of SiTime by 15.4% during the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after purchasing an additional 59,931 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company's stock.

Insiders Place Their Bets

In other SiTime news, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $157.64, for a total value of $163,630.32. Following the transaction, the insider now 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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Lionel Bonnot sold 3,501 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $174.25, for a total transaction of $610,049.25. Following the sale, the insider now directly owns 87,940 shares of the company's stock, valued at $15,323,545. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,806 shares of company stock worth $960,942. 2.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SITM shares. Stifel Nicolaus upped their target price on shares of SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday. Needham & Company LLC lifted their target price on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Barclays decreased their price target on SiTime from $180.00 to $110.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James reaffirmed an "outperform" rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a research note 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.00.

SiTime Trading Up 7.7 %

Shares of NASDAQ SITM traded up $12.86 during mid-day trading on Thursday, reaching $179.06. The company had a trading volume of 148,622 shares, compared to its average volume of 242,463. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of -44.21 and a beta of 2.24. SiTime Co. has a 52 week low of $94.82 and a 52 week high of $268.18. The business's 50-day moving average is $152.89 and its 200-day moving average is $189.41.

SiTime (NASDAQ:SITM - Get Free Report) last issued 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. 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 the consensus estimate of $54.01 million. During the same period in the prior year, the firm earned ($0.08) EPS. The company's revenue for the quarter was up 82.7% compared to the same quarter last year. As a group, equities research analysts forecast that SiTime Co. will post -2.44 earnings per share 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.