Millrace Asset Group Inc. Has $1.31 Million Stock Position in SiTime Co. (NASDAQ:SITM)

Millrace Asset Group Inc. raised its position in SiTime Co. (NASDAQ:SITM) by 28.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,634 shares of the company’s stock after buying an additional 1,682 shares during the period. Millrace Asset Group Inc.’s holdings in SiTime were worth $1,309,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SITM. FMR LLC boosted its holdings in shares of SiTime by 1.1% in the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after acquiring an additional 39,119 shares in the last quarter. Swedbank AB boosted its stake in SiTime by 21.7% in the third quarter. Swedbank AB now owns 28,000 shares of the company’s stock worth $4,802,000 after purchasing an additional 5,000 shares in the last quarter. Citigroup Inc. grew its holdings in shares of SiTime by 65.9% during the third quarter. Citigroup Inc. now owns 24,892 shares of the company’s stock worth $4,269,000 after purchasing an additional 9,888 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of SiTime by 7.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock valued at $28,440,000 after buying an additional 11,955 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of SiTime in the third quarter valued at about $716,000. 84.31% of the stock is owned by institutional investors.

SiTime Stock Up 2.0 %

SITM stock opened at $215.27 on Tuesday. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $228.12. The business’s fifty day moving average is $184.18 and its 200-day moving average is $150.97. The company has a market cap of $5.03 billion, a P/E ratio of -52.00 and a beta of 1.83.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The company had revenue of $57.70 million during the quarter, compared to analyst estimates of $55.10 million. During the same period in the previous year, the company earned ($0.81) EPS. The company’s revenue for the quarter was up 62.4% compared to the same quarter last year. Research analysts anticipate that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Insider Buying and Selling at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 807 shares of SiTime stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total transaction of $129,120.00. Following the transaction, the insider now directly owns 87,534 shares in the company, valued at approximately $14,005,440. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the completion of the sale, the insider now owns 112,584 shares of the company’s stock, valued at $15,654,805.20. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,234 shares of company stock valued at $6,454,237. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

SITM has been the topic of several research analyst reports. Stifel Nicolaus increased their price target on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Barclays increased their price objective on SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Needham & Company LLC boosted their target price on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Roth Mkm raised their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

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.