Hanseatic Management Services Inc. Takes Position in SiTime Co. (NASDAQ:SITM)

Hanseatic Management Services Inc. bought a new position in SiTime Co. (NASDAQ:SITM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,274 shares of the company’s stock, valued at approximately $702,000.

Other hedge funds have also made changes to their positions in the company. Driehaus Capital Management LLC acquired a new stake in shares of SiTime during the second quarter worth approximately $16,831,000. LMR Partners LLP grew its position in SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after acquiring an additional 70,500 shares during the last quarter. 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 valued at $76,996,000 after purchasing an additional 59,931 shares in the last quarter. Marshall Wace LLP raised its position in 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 last quarter. Finally, FMR LLC boosted its stake in SiTime by 1.1% in the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after purchasing an additional 39,119 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Trading Up 3.3 %

Shares of SITM stock opened at $250.97 on Friday. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $268.18. The stock has a 50-day moving average price of $224.50 and a 200 day moving average price of $179.61.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping 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 business had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. During the same period in the previous year, the firm posted ($0.81) earnings per share. SiTime’s revenue for the quarter was up 62.4% compared to the same quarter last year. Equities analysts forecast that SiTime Co. will post -2.98 EPS for the current fiscal year.

Insider Buying and Selling at SiTime

In related news, Director Torsten Kreindl sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the completion of the transaction, the director now owns 13,511 shares in the company, valued at approximately $2,984,039.46. The trade was a 30.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $690,920.00. Following the completion of the sale, the insider now directly owns 78,979 shares of the company’s stock, 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. In the last 90 days, insiders sold 29,931 shares of company stock worth $7,017,644. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

SITM has been the subject of a number of research reports. Stifel Nicolaus raised their target price on SiTime from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Roth Mkm raised their price objective 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. Barclays boosted their target price on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday. Finally, 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.

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.