Vanguard Group Inc. Buys 58,629 Shares of SiTime Co. (NASDAQ:SITM)

Vanguard Group Inc. increased its position in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,066,610 shares of the company's stock after acquiring an additional 58,629 shares during the quarter. Vanguard Group Inc. owned about 9.39% of SiTime worth $236,110,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of SiTime by 7.5% during the 3rd quarter. FMR LLC now owns 3,054,878 shares of the company's stock worth $349,020,000 after buying an additional 212,615 shares during the period. BlackRock Inc. raised its position in shares of SiTime by 42.1% during the 2nd quarter. BlackRock Inc. now owns 2,569,540 shares of the company's stock valued at $303,129,000 after acquiring an additional 761,370 shares during the last quarter. State Street Corp boosted its holdings in SiTime by 14.7% during the second quarter. State Street Corp now owns 974,883 shares of the company's stock worth $115,007,000 after buying an additional 124,956 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of SiTime by 8.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 613,583 shares of the company's stock worth $70,102,000 after buying an additional 46,672 shares during the period. Finally, Invesco Ltd. increased its stake in shares of SiTime by 2.1% in the 1st quarter. Invesco Ltd. now owns 398,167 shares of the company's stock valued at $98,673,000 after acquiring an additional 8,155 shares during the last quarter. Institutional investors own 84.31% of the company's stock.

SiTime Stock Up 2.3 %

SITM traded up $2.14 during trading on Friday, hitting $93.23. The company had a trading volume of 134,671 shares, compared to its average volume of 194,614. The firm's 50-day moving average price is $102.02 and its 200 day moving average price is $109.54. The company has a market capitalization of $2.12 billion, a PE ratio of -25.68 and a beta of 1.79. SiTime Co. has a one year low of $81.09 and a one year high of $142.35.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.01). SiTime had a negative return on equity of 10.21% and a negative net margin of 55.93%. The firm had revenue of $42.40 million for the quarter, compared to analyst estimates of $41.65 million. Sell-side analysts forecast that SiTime Co. will post -2.3 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Fariborz Assaderaghi sold 1,288 shares of the firm's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total value of $116,654.16. Following the completion of the transaction, the insider now owns 111,491 shares of the company's stock, valued at $10,097,739.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Fariborz Assaderaghi sold 1,288 shares of the company's stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $90.57, for a total transaction of $116,654.16. Following the sale, the insider now owns 111,491 shares in the company, valued at $10,097,739.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rajesh Vashist sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $125.00, for a total value of $125,000.00. Following the completion of the transaction, the chief executive officer now owns 428,655 shares of the company's stock, valued at $53,581,875. The disclosure for this sale can be found here. Insiders sold a total of 4,340 shares of company stock valued at $455,780 in the last quarter. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on SITM. Barclays lifted their price objective on shares of SiTime from $110.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 16th. Stifel Nicolaus increased their price target on SiTime from $135.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.00.

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.