Driehaus Capital Management LLC Acquires 75,192 Shares of SiTime Co. (NASDAQ:SITM)

Driehaus Capital Management LLC increased its stake in SiTime Co. (NASDAQ:SITM) by 24.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 385,325 shares of the company’s stock after buying an additional 75,192 shares during the quarter. Driehaus Capital Management LLC owned 1.65% of SiTime worth $82,664,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after acquiring an additional 67 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in SiTime during the fourth quarter valued at $58,000. Smartleaf Asset Management LLC increased its position in 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 buying an additional 206 shares during the last quarter. AlphaQuest LLC raised its stake in shares of SiTime by 8,460.0% in the fourth quarter. AlphaQuest LLC now owns 428 shares of the company’s stock valued at $92,000 after buying an additional 423 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of SiTime in the fourth quarter valued at $130,000. Institutional investors own 84.31% of the company’s stock.

Insider Transactions at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 1,038 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the sale, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $174.25, for a total transaction of $610,049.25. Following the transaction, the insider now directly owns 87,940 shares of the company’s stock, valued at approximately $15,323,545. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,806 shares of company stock worth $960,942. 2.30% of the stock is currently owned by insiders.

SiTime Stock Performance

SiTime stock opened at $166.70 on Thursday. The stock has a market cap of $3.95 billion, a P/E ratio of -41.16 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’s fifty day moving average price is $152.89 and its 200-day moving average price is $189.41.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.15. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The business had revenue of $60.31 million for the quarter, compared to the consensus estimate of $54.01 million. During the same period last year, the firm posted ($0.08) earnings per share. SiTime’s quarterly revenue was up 82.7% on a year-over-year basis. Sell-side analysts predict that SiTime Co. will post -2.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stifel Nicolaus decreased their price objective on SiTime from $270.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Barclays dropped their price target on shares of SiTime from $180.00 to $110.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC boosted their target price on shares of SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $250.00 price target (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, SiTime has a consensus rating of “Moderate Buy” and an average target price of $204.00.

About SiTime

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.