SiTime Co. (NASDAQ:SITM) Shares Purchased by Bessemer Group Inc.

03 Dec 2023, 13:36 by Kim Johansen · The Markets Daily

Bessemer Group Inc. increased its holdings in shares of SiTime Co. (NASDAQ:SITM – Free Report) by 20.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 594 shares of the company’s stock after purchasing an additional 99 shares during the period. Bessemer Group Inc.’s holdings in SiTime were worth $70,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Great West Life Assurance Co. Can lifted its stake in shares of SiTime by 35.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 14,204 shares of the company’s stock worth $1,675,000 after acquiring an additional 3,719 shares during the period. Schwartz Investment Counsel Inc. lifted its stake in shares of SiTime by 22.3% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 110,045 shares of the company’s stock worth $12,982,000 after acquiring an additional 20,045 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of SiTime by 4.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 125,696 shares of the company’s stock worth $14,828,000 after acquiring an additional 5,861 shares during the period. Citigroup Inc. lifted its stake in shares of SiTime by 151.4% in the 2nd quarter. Citigroup Inc. now owns 15,912 shares of the company’s stock worth $1,877,000 after acquiring an additional 9,582 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of SiTime in the 2nd quarter worth $14,795,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Buying and Selling at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,026 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $110.55, for a total transaction of $113,424.30. Following the completion of the transaction, the insider now directly owns 97,108 shares in the company, valued at approximately $10,735,289.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 3,078 shares of company stock worth $327,725. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Roth Mkm cut their price target on shares of SiTime from $150.00 to $125.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $140.00.

Check Out Our Latest Analysis on SITM

SiTime Trading Up 0.0 %

Shares of SITM opened at $110.62 on Friday. The company has a 50-day simple moving average of $110.69 and a 200-day simple moving average of $115.97. SiTime Co. has a 52-week low of $81.09 and a 52-week high of $142.88.

SiTime (NASDAQ:SITM – Get Free Report) last posted its earnings results on Wednesday, November 1st. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.09). SiTime had a negative net margin of 38.21% and a negative return on equity of 8.74%. The business had revenue of $35.52 million for the quarter, compared to analysts’ expectations of $34.69 million. As a group, research analysts anticipate that SiTime Co. will post -3.27 EPS for the current year.

SiTime Company Profile

(Free Report)

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

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