Gilder Gagnon Howe & Co. LLC Acquires 28,825 Shares of SiTime Corporation $SITM

Gilder Gagnon Howe & Co. LLC grew its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 7.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,085 shares of the company’s stock after acquiring an additional 28,825 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 1.52% of SiTime worth $83,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Alliancebernstein L.P. lifted its position in SiTime by 2,016.8% during the first quarter. Alliancebernstein L.P. now owns 443,227 shares of the company’s stock valued at $67,756,000 after purchasing an additional 422,288 shares in the last quarter. American Century Companies Inc. bought a new position in shares of SiTime in the second quarter worth about $64,873,000. Eventide Asset Management LLC lifted its position in shares of SiTime by 5,015.9% during the 1st quarter. Eventide Asset Management LLC now owns 166,214 shares of the company’s stock valued at $25,408,000 after buying an additional 162,965 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of SiTime by 22.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock valued at $156,887,000 after acquiring an additional 132,948 shares during the period. Finally, Wellington Management Group LLP increased its holdings in SiTime by 41.9% in the 1st quarter. Wellington Management Group LLP now owns 277,590 shares of the company’s stock worth $42,435,000 after acquiring an additional 82,017 shares in the last quarter. 84.31% of the stock is owned by institutional investors.

Insider Transactions at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,500 shares of SiTime stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $291.58, for a total value of $437,370.00. Following the sale, the insider owned 84,815 shares of the company’s stock, valued at $24,730,357.70. The trade was a 1.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Samsheer Ahamad sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $291.10, for a total value of $1,164,400.00. Following the sale, the insider directly owned 51,711 shares in the company, valued at $15,053,072.10. This trade represents a 7.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 28,500 shares of company stock worth $8,853,310. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on SITM shares. Roth Capital reaffirmed a “buy” rating and set a $350.00 price target on shares of SiTime in a report on Thursday, November 6th. Stifel Nicolaus set a $360.00 price objective on shares of SiTime in a research report on Thursday, November 6th. Raymond James Financial reaffirmed an “outperform” rating on shares of SiTime in a report on Tuesday, December 2nd. Barclays increased their price target on SiTime from $220.00 to $260.00 and gave the stock an “underweight” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, SiTime has an average rating of “Moderate Buy” and an average target price of $332.14.

SiTime Stock Performance

SITM opened at $362.05 on Friday. The stock has a market capitalization of $9.45 billion, a price-to-earnings ratio of -122.31 and a beta of 2.55. The company has a fifty day moving average of $300.15 and a 200 day moving average of $253.54. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $387.52.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.71 by $0.16. SiTime had a negative net margin of 25.18% and a negative return on equity of 5.69%. The business had revenue of $83.57 million during the quarter, compared to the consensus estimate of $78.08 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue was up 44.8% on a year-over-year basis. On average, equities research analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current year.

About SiTime

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.