Lisanti Capital Growth LLC Acquires Shares of 20,105 SiTime Co. (NASDAQ:SITM)

Lisanti Capital Growth LLC acquired a new stake in SiTime Co. (NASDAQ:SITM) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 20,105 shares of the company’s stock, valued at approximately $2,454,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SITM. FMR LLC grew its position in shares of SiTime by 7.5% during the 3rd quarter. FMR LLC now owns 3,054,878 shares of the company’s stock worth $349,020,000 after buying an additional 212,615 shares during the period. Sandhill Capital Partners LLC acquired a new stake in shares of SiTime during the 3rd quarter worth approximately $18,709,000. Invesco Ltd. grew its position in shares of SiTime by 220.2% during the 3rd quarter. Invesco Ltd. now owns 198,296 shares of the company’s stock worth $22,655,000 after buying an additional 136,367 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of SiTime during the 3rd quarter worth approximately $10,035,000. Finally, Vanguard Group Inc. grew its position in shares of SiTime by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock worth $236,110,000 after buying an additional 58,629 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Stock Up 4.8 %

NASDAQ SITM traded up $4.39 during trading on Monday, reaching $96.64. 187,879 shares of the stock traded hands, compared to its average volume of 206,153. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -26.62 and a beta of 1.78. The stock’s 50-day moving average price is $87.91 and its 200 day moving average price is $104.30. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $141.99.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The firm had revenue of $42.40 million for the quarter, compared to analyst estimates of $41.65 million. SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. Analysts anticipate that SiTime Co. will post -2.3 EPS for the current fiscal year.

Insider Buying and Selling at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,026 shares of SiTime stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $92.33, for a total value of $94,730.58. Following the transaction, the insider now owns 90,887 shares of the company’s stock, valued at $8,391,596.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 3,602 shares of company stock valued at $319,899. 2.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Barclays lifted their price target on shares of SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, SiTime currently has an average rating of “Moderate Buy” and an average price target of $142.00.

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.