F m Investments LLC Purchases 518 Shares of SiTime Corporation $SITM

F m Investments LLC increased its position in shares of SiTime Corporation (NASDAQ:SITM) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,946 shares of the company’s stock after purchasing an additional 518 shares during the period. F m Investments LLC owned about 0.13% of SiTime worth $7,020,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank bought a new stake in SiTime in the 2nd quarter valued at $3,507,000. State Board of Administration of Florida Retirement System increased its stake in SiTime by 28.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 6,031 shares of the company’s stock valued at $1,285,000 after acquiring an additional 1,347 shares during the period. Thornburg Investment Management Inc. bought a new position in SiTime during the second quarter worth about $3,409,000. Russell Investments Group Ltd. lifted its stake in SiTime by 472.6% during the second quarter. Russell Investments Group Ltd. now owns 42,908 shares of the company’s stock worth $9,143,000 after purchasing an additional 35,415 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in SiTime by 18.3% during the second quarter. Advisors Asset Management Inc. now owns 414 shares of the company’s stock valued at $88,000 after purchasing an additional 64 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Price Performance

SITM opened at $289.29 on Friday. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $386.00. The firm has a 50 day simple moving average of $290.49 and a 200 day simple moving average of $242.74. The company has a market cap of $7.55 billion, a price-to-earnings ratio of -97.73 and a beta of 2.36.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.16. The firm had revenue of $83.57 million for the quarter, compared to analyst estimates of $78.08 million. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The company’s quarterly revenue was up 44.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. As a group, analysts expect that SiTime Corporation will post -2.44 EPS for the current year.

Insider Buying and Selling at SiTime

In related news, EVP Elizabeth A. Howe sold 5,099 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $319.00, for a total transaction of $1,626,581.00. Following the completion of the transaction, the executive vice president owned 59,070 shares in the company, valued at approximately $18,843,330. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Fariborz Assaderaghi sold 3,000 shares of SiTime stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $231.75, for a total transaction of $695,250.00. Following the transaction, the insider directly owned 90,433 shares in the company, valued at approximately $20,957,847.75. This represents a 3.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 42,867 shares of company stock worth $11,972,893 over the last ninety days. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Stifel Nicolaus set a $360.00 target price on SiTime in a research report on Thursday, November 6th. Needham & Company LLC boosted their target price on shares of SiTime from $250.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. UBS Group increased their target price on shares of SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Raymond James Financial restated an “outperform” rating and issued a $270.00 price target (up from $250.00) on shares of SiTime in a research report on Friday, August 29th. Finally, Loop Capital began coverage on shares of SiTime in a report on Friday, November 21st. They set a “buy” rating and a $350.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, SiTime has an average rating of “Moderate Buy” and a consensus price target of $332.14.

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.