Jennison Associates LLC Boosts Position in SiTime Co. (NASDAQ:SITM)

Jennison Associates LLC lifted its position in SiTime Co. (NASDAQ:SITM) by 19.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,770 shares of the company’s stock after purchasing an additional 28,739 shares during the period. Jennison Associates LLC owned about 0.77% of SiTime worth $21,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barclays upped their price objective 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. Stifel Nicolaus upped their price objective on shares of SiTime from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, SiTime presently has an average rating of “Moderate Buy” and an average target price of $142.00.

Insider Buying and Selling at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,026 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $116.37, for a total value of $119,395.62. Following the transaction, the insider now owns 94,056 shares of the company’s stock, valued at $10,945,296.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 3,340 shares of company stock valued at $330,780 over the last 90 days. 2.30% of the stock is owned by insiders.

SiTime Stock Up 9.0 %

SiTime stock opened at $83.07 on Friday. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $141.99. The company has a fifty day simple moving average of $89.29 and a 200-day simple moving average of $105.68.

SiTime (NASDAQ:SITM) last announced 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). SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. The firm had revenue of $42.40 million during the quarter, compared to analysts’ expectations of $41.65 million. Equities analysts anticipate that SiTime Co. will post -2.3 EPS for the current fiscal year.

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.