SiTime Co. (NASDAQ:SITM) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its stake in SiTime Co. (NASDAQ:SITM - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 240,050 shares of the company's stock after buying an additional 11,872 shares during the quarter. Northern Trust Corp owned about 1.03% of SiTime worth $51,498,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Barclays PLC lifted 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 worth $6,515,000 after purchasing an additional 16,964 shares during the last quarter. Virtu Financial LLC purchased a new position in SiTime in the 3rd quarter worth about $204,000. Principal Financial Group Inc. lifted its holdings in SiTime by 15.4% during the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after buying an additional 59,931 shares in the last quarter. GAMMA Investing LLC boosted its position in SiTime by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 944 shares of the company's stock valued at $203,000 after buying an additional 201 shares during the period. Finally, Hanseatic Management Services Inc. purchased a new position in shares of SiTime during the fourth quarter worth approximately $702,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SiTime news, insider Fariborz Assaderaghi sold 1,267 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $147.80, for a total value of $187,262.60. Following the completion of the transaction, the insider now directly owns 113,584 shares of the company's stock, valued at approximately $16,787,715.20. The trade was a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lionel Bonnot sold 3,501 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the sale, the insider now owns 87,940 shares in the company, valued at approximately $15,323,545. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,074 shares of company stock valued at $1,195,421 over the last 90 days. Insiders own 2.10% of the company's stock.

SiTime Stock Up 0.8 %

Shares of NASDAQ SITM traded up $1.51 during mid-day trading on Friday, reaching $190.01. 319,176 shares of the company were exchanged, compared to its average volume of 242,068. The firm has a 50-day moving average of $154.37 and a 200 day moving average of $189.54. SiTime Co. has a 1 year low of $105.40 and a 1 year high of $268.18. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of -46.92 and a beta of 2.24.

SiTime (NASDAQ:SITM - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.15. The company had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The firm's quarterly revenue was up 82.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.08) EPS. On average, equities analysts forecast that SiTime Co. will post -2.44 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Stifel Nicolaus raised their price objective on SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday. Raymond James restated an "outperform" rating and issued a $250.00 price objective (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Needham & Company LLC upped their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Finally, Barclays raised their target price on shares of SiTime from $110.00 to $135.00 and gave the company an "underweight" rating in a research report on Thursday. One research 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 has a consensus rating of "Moderate Buy" and an average target price 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.