S Squared Technology LLC Buys 5,000 Shares of SiTime Co. (NASDAQ:SITM)

S Squared Technology LLC raised its stake in SiTime Co. (NASDAQ:SITM) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,046 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. SiTime comprises 4.7% of S Squared Technology LLC’s holdings, making the stock its 8th largest position. S Squared Technology LLC owned 0.36% of SiTime worth $9,772,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its position in shares of SiTime by 78.2% in the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock valued at $41,000 after acquiring an additional 147 shares during the period. Nemes Rush Group LLC boosted its holdings in SiTime by 26.9% in the 4th quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock valued at $66,000 after purchasing an additional 115 shares during the period. Assetmark Inc. grew its position in shares of SiTime by 24.4% during the 4th quarter. Assetmark Inc. now owns 781 shares of the company’s stock worth $95,000 after purchasing an additional 153 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of SiTime during the fourth quarter worth approximately $202,000. Finally, Legato Capital Management LLC acquired a new position in SiTime in the 4th quarter valued at $237,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Needham & Company LLC raised SiTime from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 1,288 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total value of $116,654.16. Following the completion of the sale, the insider now directly owns 111,491 shares in the company, valued at $10,097,739.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other SiTime news, insider Fariborz Assaderaghi sold 1,288 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $90.57, for a total value of $116,654.16. Following the completion of the sale, the insider now owns 111,491 shares of the company’s stock, valued at $10,097,739.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lionel Bonnot sold 781 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $117.08, for a total value of $91,439.48. Following the sale, the insider now owns 98,299 shares of the company’s stock, valued at approximately $11,508,846.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,529 shares of company stock worth $1,717,652. 2.30% of the stock is owned by corporate insiders.

SiTime Trading Down 3.6 %

NASDAQ:SITM traded down $4.42 during trading hours on Friday, hitting $118.89. 108,986 shares of the company were exchanged, compared to its average volume of 168,613. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -28.79 and a beta of 1.83. SiTime Co. has a one year low of $72.39 and a one year high of $141.99. The company has a fifty day simple moving average of $102.54 and a 200 day simple moving average of $106.79.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.17). SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. The firm had revenue of $33.02 million for the quarter, compared to the consensus estimate of $32.02 million. Equities research analysts predict that SiTime Co. will post -2.66 earnings per share 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.