Price T Rowe Associates Inc. MD Purchases 28,856 Shares of SiTime Co. (NASDAQ:SITM)

Price T Rowe Associates Inc. MD lifted its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 82.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,047 shares of the company's stock after acquiring an additional 28,856 shares during the period. Price T Rowe Associates Inc. MD owned 0.27% of SiTime worth $13,741,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SITM. Barclays PLC boosted its holdings in SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company's stock valued at $6,515,000 after acquiring an additional 16,964 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after acquiring an additional 206 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in SiTime during the fourth quarter valued at approximately $538,000. Proficio Capital Partners LLC acquired a new stake in SiTime in the fourth quarter valued at approximately $4,418,000. Finally, Principal Financial Group Inc. boosted its position in SiTime by 15.4% during the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock worth $76,996,000 after purchasing an additional 59,931 shares during the period. 84.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays lowered their price objective on SiTime from $180.00 to $110.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus increased their target price on SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday. Raymond James reissued an "outperform" rating and issued a $250.00 price target (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Finally, Needham & Company LLC increased their target price on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $210.00.

SiTime Trading Up 6.7 %

SITM traded up $11.09 on Thursday, reaching $177.29. The stock had a trading volume of 155,499 shares, compared to its average volume of 242,468. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of -43.78 and a beta of 2.24. SiTime Co. has a fifty-two week low of $94.82 and a fifty-two week high of $268.18. The firm has a 50-day moving average of $152.89 and a 200-day moving average of $189.41.

SiTime (NASDAQ:SITM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.11 by $0.15. The business had revenue of $60.31 million for the quarter, compared to the consensus estimate of $54.01 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The firm's revenue was up 82.7% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. Sell-side analysts anticipate that SiTime Co. will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of SiTime 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 directly owns 87,940 shares in the company, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,267 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $147.80, for a total transaction of $187,262.60. Following the transaction, the insider now owns 113,584 shares in the company, valued at $16,787,715.20. This represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,806 shares of company stock valued at $960,942 in the last three months. Insiders own 2.30% of the company's stock.

SiTime Company Profile

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.