Everence Capital Management Inc. Invests $243,000 in SiTime Co. (NASDAQ:SITM)

Everence Capital Management Inc. purchased a new position in shares of SiTime Co. (NASDAQ:SITM) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,990 shares of the company’s stock, valued at approximately $243,000.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. grew its holdings in SiTime by 42.1% during the second quarter. BlackRock Inc. now owns 2,569,540 shares of the company’s stock valued at $303,129,000 after purchasing an additional 761,370 shares during the period. FMR LLC grew its holdings in SiTime by 7.5% during the third quarter. FMR LLC now owns 3,054,878 shares of the company’s stock valued at $349,020,000 after purchasing an additional 212,615 shares during the period. State Street Corp grew its holdings in SiTime by 30.1% during the third quarter. State Street Corp now owns 808,383 shares of the company’s stock valued at $63,644,000 after purchasing an additional 187,116 shares during the period. Sandhill Capital Partners LLC acquired a new position in SiTime during the third quarter valued at approximately $18,709,000. Finally, Norges Bank acquired a new position in SiTime during the fourth quarter valued at approximately $14,921,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Transactions at SiTime

In related news, CEO Rajesh Vashist sold 1,000 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $125.00, for a total transaction of $125,000.00. Following the completion of the transaction, the chief executive officer now owns 428,655 shares in the company, valued at $53,581,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Rajesh Vashist sold 1,000 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $125.00, for a total transaction of $125,000.00. Following the completion of the transaction, the chief executive officer now owns 428,655 shares in the company, valued at $53,581,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Fariborz Assaderaghi sold 1,026 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $92.33, for a total transaction of $94,730.58. Following the transaction, the insider now owns 90,887 shares of the company’s stock, valued at approximately $8,391,596.71. The disclosure for this sale can be found here. Insiders sold 4,340 shares of company stock valued at $455,780 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SITM. Barclays boosted their price objective on shares of SiTime from $110.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Stifel Nicolaus boosted their price objective on shares of SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

SiTime Price Performance

Shares of SITM stock opened at $74.47 on Friday. The firm has a fifty day moving average of $93.56 and a 200-day moving average of $106.96. SiTime Co. has a 12-month low of $73.88 and a 12-month high of $141.99.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.01). SiTime had a negative return on equity of 10.21% and a negative net margin of 55.93%. The company had revenue of $42.40 million for the quarter, compared to the consensus estimate of $41.65 million. Research analysts anticipate that SiTime Co. will post -2.3 EPS for the current fiscal year.

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.