Nisa Investment Advisors LLC Increases Position in SiTime Co. (NASDAQ:SITM)

Nisa Investment Advisors LLC raised its position in shares of SiTime Co. (NASDAQ:SITM) by 59.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 236 shares of the company’s stock after buying an additional 88 shares during the period. Nisa Investment Advisors LLC’s holdings in SiTime were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Pineridge Advisors LLC acquired a new position in SiTime during the 4th quarter worth about $25,000. Quadrant Capital Group LLC boosted its stake in shares of SiTime by 78.2% in the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock valued at $41,000 after purchasing an additional 147 shares during the period. GAMMA Investing LLC grew its holdings in shares of SiTime by 281.0% in the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after purchasing an additional 281 shares in the last quarter. Nemes Rush Group LLC increased its stake in SiTime by 26.9% during the 4th quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after buying an additional 115 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in SiTime by 35.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock worth $84,000 after buying an additional 180 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Trading Down 0.2 %

Shares of SITM stock opened at $144.52 on Tuesday. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $165.11. The company has a market cap of $3.31 billion, a P/E ratio of -34.99 and a beta of 1.82. The firm has a fifty day moving average price of $135.29 and a 200 day moving average price of $113.68.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.08. The firm had revenue of $43.90 million during the quarter, compared to analysts’ expectations of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The firm’s revenue was up 58.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.17) earnings per share. On average, equities analysts forecast that SiTime Co. will post -3.03 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SITM. Stifel Nicolaus upped their price objective on SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Barclays cut their price target on SiTime from $130.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of SiTime in a research note on Tuesday, June 25th.

Insider Activity at SiTime

In other SiTime news, insider Vincent P. Pangrazio sold 1,962 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $150.00, for a total value of $294,300.00. Following the completion of the transaction, the insider now owns 69,175 shares in the company, valued at $10,376,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SiTime news, insider Vincent P. Pangrazio sold 1,962 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $150.00, for a total value of $294,300.00. Following the completion of the sale, the insider now owns 69,175 shares in the company, valued at $10,376,250. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Lionel Bonnot sold 3,230 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $140.55, for a total transaction of $453,976.50. Following the transaction, the insider now owns 87,525 shares in the company, valued at $12,301,638.75. The disclosure for this sale can be found here. Insiders have sold 51,497 shares of company stock valued at $6,783,275 in the last ninety days. Insiders own 2.30% of the company’s stock.

SiTime 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.