Gotham Asset Management LLC Buys 4,621 Shares of SiTime Co. (NASDAQ:SITM)

Gotham Asset Management LLC grew its stake in SiTime Co. (NASDAQ:SITM) by 392.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,798 shares of the company’s stock after purchasing an additional 4,621 shares during the period. Gotham Asset Management LLC’s holdings in SiTime were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SITM. Blue Trust Inc. boosted its holdings in shares of SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after acquiring an additional 67 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of SiTime in the 4th quarter worth approximately $58,000. Smartleaf Asset Management LLC boosted its holdings in shares of SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after acquiring an additional 206 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of SiTime by 8,460.0% in the 4th quarter. AlphaQuest LLC now owns 428 shares of the company’s stock worth $92,000 after acquiring an additional 423 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of SiTime in the 4th quarter worth approximately $130,000. 84.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on SITM. Needham & Company LLC upped their price objective on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Stifel Nicolaus upped their price objective on SiTime from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Raymond James reaffirmed an “outperform” rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Finally, Barclays upped their price objective on SiTime from $110.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $215.00.

Insider Activity

In other news, CEO Rajesh Vashist sold 20,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $210.65, for a total value of $4,213,000.00. Following the transaction, the chief executive officer now owns 490,320 shares of the company’s stock, valued at $103,285,908. This represents a 3.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the transaction, the insider now directly owns 87,940 shares in the company, valued at approximately $15,323,545. This trade represents a 3.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,074 shares of company stock valued at $5,408,421 in the last 90 days. 2.30% of the stock is owned by company insiders.

SiTime Stock Up 2.3%

SITM stock opened at $210.67 on Friday. The business’s fifty day moving average is $158.11 and its 200-day moving average is $190.36. The company has a market cap of $5.00 billion, a P/E ratio of -52.02 and a beta of 2.24. SiTime Co. has a twelve month low of $105.40 and a twelve month high of $268.18.

SiTime (NASDAQ:SITM) last posted its quarterly 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. The company had revenue of $60.31 million for the quarter, compared to the consensus estimate of $54.01 million. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The firm’s quarterly revenue was up 82.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) EPS. Research analysts anticipate that SiTime Co. will post -2.44 earnings per share 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.