Van ECK Associates Corp Invests $123,000 in SiTime Co. (NASDAQ:SITM)

Van ECK Associates Corp acquired a new position in SiTime Co. (NASDAQ:SITM) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 682 shares of the company’s stock, valued at approximately $123,000.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of SiTime by 4.1% in the first 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 during the last quarter. Principal Financial Group Inc. raised its position in SiTime by 15.2% during the second quarter. Principal Financial Group Inc. now owns 388,999 shares of the company’s stock valued at $48,384,000 after acquiring an additional 51,407 shares in the last quarter. William Blair Investment Management LLC raised its position in SiTime by 62.0% during the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after acquiring an additional 79,648 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in SiTime during the second quarter valued at approximately $16,831,000. Finally, Grandeur Peak Global Advisors LLC raised its position in SiTime by 34.7% during the first quarter. Grandeur Peak Global Advisors LLC now owns 95,281 shares of the company’s stock valued at $8,883,000 after acquiring an additional 24,542 shares in the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SITM has been the subject of several recent research reports. Needham & Company LLC lifted their price target on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus lifted their price target on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Roth Mkm lifted their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays lifted their price target on SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research report on Friday, November 8th.

SiTime Price Performance

SiTime stock opened at $202.32 on Thursday. The stock has a market capitalization of $4.73 billion, a PE ratio of -50.19 and a beta of 1.83. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $228.12. The business has a 50 day simple moving average of $172.02 and a 200-day simple moving average of $144.00.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The business had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business’s revenue was up 62.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.81) earnings per share. On average, equities research analysts anticipate that SiTime Co. will post -3.03 EPS for the current fiscal year.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the sale, the insider now directly owns 112,584 shares of the company’s stock, valued at $15,654,805.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Torsten Kreindl sold 6,000 shares of SiTime stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $220.86, for a total value of $1,325,160.00. Following the sale, the director now directly owns 13,511 shares of the company’s stock, valued at $2,984,039.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the completion of the sale, the insider now directly owns 112,584 shares in the company, valued at $15,654,805.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,464 shares of company stock valued at $6,698,053 over the last ninety days. 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.