Sei Investments Co. Has $1.83 Million Holdings in SiTime Co. (NASDAQ:SITM)

Sei Investments Co. grew its holdings in SiTime Co. (NASDAQ:SITM) by 2.9% during the second quarter, Holdings Channel.com reports. The firm owned 14,670 shares of the company’s stock after buying an additional 409 shares during the period. Sei Investments Co.’s holdings in SiTime were worth $1,825,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Pineridge Advisors LLC acquired a new position in shares of SiTime in the 4th quarter valued at about $25,000. Nisa Investment Advisors LLC increased its holdings in shares of SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares during the period. GAMMA Investing LLC increased its holdings in shares of SiTime by 281.0% in the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after purchasing an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of SiTime in the 2nd quarter valued at about $49,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of SiTime by 35.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock valued at $84,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Trading Up 1.4 %

SITM opened at $179.39 on Friday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $182.45. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -43.44 and a beta of 1.82. The business has a 50 day moving average of $144.34 and a 200-day moving average of $124.69.

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

Insider Activity at SiTime

In related news, insider Samsheer Ahamad sold 4,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $131.00, for a total value of $524,000.00. Following the completion of the transaction, the insider now directly owns 78,856 shares in the company, valued at approximately $10,330,136. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other SiTime news, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.13, for a total transaction of $165,625.39. Following the completion of the transaction, the insider now directly owns 110,578 shares in the company, valued at $18,259,745.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Samsheer Ahamad sold 4,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $131.00, for a total value of $524,000.00. Following the transaction, the insider now owns 78,856 shares of the company’s stock, valued at $10,330,136. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,246 shares of company stock worth $7,441,590. 2.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on SITM shares. Stifel Nicolaus boosted their price target on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Barclays cut 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 target price on shares of SiTime in a research report on Tuesday, June 25th.

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.