State of Alaska Department of Revenue Has $1.83 Million Position in SiTime Co. (NASDAQ:SITM)

State of Alaska Department of Revenue boosted its holdings in SiTime Co. (NASDAQ:SITM) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,698 shares of the company’s stock after acquiring an additional 358 shares during the quarter. State of Alaska Department of Revenue’s holdings in SiTime were worth $1,834,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Signaturefd LLC grew its stake in shares of SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Nisa Investment Advisors LLC raised its stake in SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after acquiring an additional 88 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of SiTime by 281.0% during the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after acquiring an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in SiTime during the 2nd quarter valued at about $49,000. Finally, PNC Financial Services Group Inc. boosted its position in SiTime by 35.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock valued at $84,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Transactions at SiTime

In related news, insider Fariborz Assaderaghi sold 1,003 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.13, for a total value of $165,625.39. Following the transaction, the insider now owns 110,578 shares in the company, valued at $18,259,745.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the completion of the sale, the chief executive officer now owns 424,417 shares in the company, valued at approximately $72,180,599.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.13, for a total value of $165,625.39. Following the completion of the transaction, the insider now owns 110,578 shares in the company, valued at $18,259,745.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,464 shares of company stock worth $4,681,973 over the last 90 days. 2.30% of the stock is owned by insiders.

SiTime Trading Up 0.9 %

SITM opened at $170.60 on Friday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $188.98. The stock has a market capitalization of $3.95 billion, a PE ratio of -41.41 and a beta of 1.82. The firm has a 50-day moving average price of $163.72 and a two-hundred day moving average price of $137.06.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.08. The firm had revenue of $43.90 million during the quarter, compared to analysts’ expectations of $41.01 million. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. SiTime’s revenue was up 58.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.17) EPS. On average, research analysts predict that SiTime Co. will post -3.03 EPS for the current year.

Analyst Ratings Changes

SITM has been the subject of several recent analyst reports. Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective for the company. in a report on Tuesday, August 27th. Stifel Nicolaus raised their price target on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th.

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.