Hanseatic Management Services Inc. Takes $702,000 Position in SiTime Co. (NASDAQ:SITM)

Hanseatic Management Services Inc. bought a new position in shares of SiTime Co. (NASDAQ:SITM) in the fourth quarter, HoldingsChannel reports. The firm bought 3,274 shares of the company’s stock, valued at approximately $702,000.

Several other hedge funds have also recently bought and sold shares of the stock. Driehaus Capital Management LLC acquired a new position in shares of SiTime in the second quarter valued at approximately $16,831,000. LMR Partners LLP boosted its stake in SiTime by 705.0% in the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after purchasing an additional 70,500 shares during the period. Principal Financial Group Inc. increased its holdings in SiTime by 15.4% during the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after purchasing an additional 59,931 shares in the last quarter. Marshall Wace LLP raised its stake in shares of SiTime by 381.4% in the 2nd quarter. Marshall Wace LLP now owns 60,650 shares of the company’s stock valued at $7,544,000 after purchasing an additional 48,051 shares during the period. Finally, FMR LLC lifted its holdings in shares of SiTime by 1.1% in the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock valued at $595,113,000 after purchasing an additional 39,119 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Price Performance

NASDAQ:SITM opened at $250.97 on Friday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18. The firm has a fifty day simple moving average of $224.50 and a 200 day simple moving average of $179.61.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The company had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. During the same quarter last year, the firm posted ($0.81) EPS. The company’s quarterly revenue was up 62.4% on a year-over-year basis. As a group, equities research analysts predict that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SITM has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on SiTime from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC boosted their price objective on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Roth Mkm raised their target price on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays boosted their price target on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research report on Friday.

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.16, for a total transaction of $210,160.00. Following the completion of the sale, the insider now directly owns 108,574 shares in the company, valued at $22,817,911.84. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $172.73, for a total value of $690,920.00. Following the completion of the transaction, the insider now directly owns 78,979 shares in the company, valued at $13,642,042.67. The trade was a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,931 shares of company stock valued at $7,017,644 over the last 90 days. 2.30% of the stock is currently owned by insiders.

SiTime Company 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.