Handelsbanken Fonder AB Has $1.03 Million Stake in SiTime Co. (NASDAQ:SITM)

Handelsbanken Fonder AB increased its position in shares of SiTime Co. (NASDAQ:SITM) by 17.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,984 shares of the company’s stock after purchasing an additional 900 shares during the period. Handelsbanken Fonder AB’s holdings in SiTime were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SITM. Driehaus Capital Management LLC acquired a new stake in shares of SiTime during the second quarter worth $16,831,000. Vanguard Group Inc. raised its stake in SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after purchasing an additional 85,800 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in SiTime by 62.0% in the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after purchasing an additional 79,648 shares during the period. F M Investments LLC acquired a new position in shares of SiTime during the 2nd quarter worth approximately $8,909,000. Finally, Roubaix Capital LLC bought a new position in shares of SiTime during the first quarter worth approximately $5,288,000. 84.31% of the stock is currently owned by institutional investors.

SiTime Price Performance

Shares of SITM opened at $185.00 on Friday. The firm has a 50 day simple moving average of $147.91 and a two-hundred day simple moving average of $126.92. The company has a market cap of $4.28 billion, a P/E ratio of -44.90 and a beta of 1.82. SiTime Co. has a one year low of $72.39 and a one year high of $187.56.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data 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 business had revenue of $43.90 million during the quarter, compared to the consensus estimate of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. SiTime’s revenue for the quarter was up 58.5% on a year-over-year basis. During the same period in the prior year, the company earned ($1.17) EPS. On average, analysts expect that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Insider Transactions at SiTime

In related news, insider Piyush B. Sevalia sold 1,338 shares of SiTime stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $180.00, for a total transaction of $240,840.00. Following the sale, the insider now directly owns 86,196 shares of the company’s stock, valued at approximately $15,515,280. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Piyush B. Sevalia sold 1,338 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $180.00, for a total transaction of $240,840.00. Following the sale, the insider now owns 86,196 shares of the company’s stock, valued at $15,515,280. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.13, for a total value of $165,625.39. Following the sale, the insider now owns 110,578 shares in the company, valued at $18,259,745.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,547 shares of company stock valued at $5,361,178. 2.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SITM. Stifel Nicolaus increased their price target on SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of SiTime in a report on Tuesday, June 25th. Finally, Barclays downgraded SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a research note on Tuesday, August 27th.

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.