Russell Investments Group Ltd. Increases Holdings in SiTime Co. (NASDAQ:SITM)

Russell Investments Group Ltd. increased its stake in SiTime Co. (NASDAQ:SITMGet Rating) by 0.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 44,072 shares of the company’s stock after buying an additional 94 shares during the quarter. Russell Investments Group Ltd. owned 0.21% of SiTime worth $10,919,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new stake in SiTime in the fourth quarter worth about $917,000. Yousif Capital Management LLC purchased a new position in SiTime in the fourth quarter valued at approximately $2,338,000. Dupont Capital Management Corp bought a new position in SiTime during the fourth quarter valued at $143,000. Xponance Inc. purchased a new stake in SiTime in the fourth quarter worth $660,000. Finally, Oregon Public Employees Retirement Fund bought a new stake in shares of SiTime in the fourth quarter valued at $1,434,000. Institutional investors own 62.79% of the company’s stock.

SiTime Trading Up 2.7 %

Shares of SiTime stock opened at $140.06 on Friday. The company’s 50-day moving average price is $176.68 and its 200-day moving average price is $192.16. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 58.36, a PEG ratio of 8.39 and a beta of 1.61. SiTime Co. has a 12-month low of $129.44 and a 12-month high of $341.77.

SiTime (NASDAQ:SITMGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.09). The firm had revenue of $70.25 million during the quarter, compared to the consensus estimate of $65.00 million. SiTime had a net margin of 18.31% and a return on equity of 9.83%. The firm’s revenue for the quarter was up 97.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.20) earnings per share. On average, sell-side analysts predict that SiTime Co. will post 1.66 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 171 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $213.53, for a total transaction of $36,513.63. Following the completion of the transaction, the insider now directly owns 122,303 shares in the company, valued at $26,115,359.59. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Vincent P. Pangrazio sold 500 shares of the firm’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $225.00, for a total transaction of $112,500.00. Following the sale, the insider now owns 92,629 shares in the company, valued at approximately $20,841,525. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 171 shares of SiTime stock in a transaction on Friday, May 27th. The stock was sold at an average price of $213.53, for a total transaction of $36,513.63. Following the sale, the insider now directly owns 122,303 shares of the company’s stock, valued at $26,115,359.59. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,924 shares of company stock worth $4,132,098. Corporate insiders own 1.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SITM. TheStreet downgraded SiTime from a “c-” rating to a “d” rating in a research note on Wednesday, April 27th. Raymond James cut their target price on shares of SiTime from $320.00 to $240.00 and set an “outperform” rating for the company in a research report on Thursday. Needham & Company LLC reduced their target price on shares of SiTime from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Barclays dropped their price target on shares of SiTime from $230.00 to $195.00 and set an “overweight” rating on the stock in a research note on Thursday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $246.00.

SiTime Company Profile

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SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

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Institutional Ownership by Quarter for SiTime (NASDAQ:SITM)

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