Pursue Wealth Partners LLC Purchases 139 Shares of SiTime Co. (NASDAQ:SITM)

Pursue Wealth Partners LLC boosted its position in SiTime Co. (NASDAQ:SITM) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,618 shares of the company’s stock after purchasing an additional 139 shares during the quarter. SiTime comprises about 1.8% of Pursue Wealth Partners LLC’s portfolio, making the stock its 18th biggest holding. Pursue Wealth Partners LLC owned approximately 0.10% of SiTime worth $2,761,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SITM. SG Americas Securities LLC bought a new stake in SiTime in the 3rd quarter valued at $1,823,000. Handelsbanken Fonder AB raised its holdings in SiTime by 51.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 3,784 shares of the company’s stock valued at $432,000 after acquiring an additional 1,284 shares in the last quarter. Cavalier Investments LLC raised its holdings in SiTime by 3.5% in the 3rd quarter. Cavalier Investments LLC now owns 9,256 shares of the company’s stock valued at $1,057,000 after acquiring an additional 314 shares in the last quarter. Brown Advisory Inc. raised its holdings in SiTime by 8.2% in the 3rd quarter. Brown Advisory Inc. now owns 69,272 shares of the company’s stock valued at $7,914,000 after acquiring an additional 5,269 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in SiTime by 18.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,483 shares of the company’s stock valued at $398,000 after acquiring an additional 537 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,026 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $92.33, for a total transaction of $94,730.58. Following the sale, the insider now owns 90,887 shares in the company, valued at approximately $8,391,596.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 3,340 shares of company stock worth $330,780 in the last 90 days. Insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SITM. Stifel Nicolaus lifted their price objective on SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Barclays lifted their price objective on SiTime from $110.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.00.

SiTime Price Performance

Shares of SiTime stock traded up $5.72 during trading on Friday, reaching $88.79. 246,486 shares of the company’s stock were exchanged, compared to its average volume of 206,057. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $141.99. The firm’s 50-day moving average price is $89.00 and its 200 day moving average price is $105.41.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The firm had revenue of $42.40 million for the quarter, compared to the consensus estimate of $41.65 million. SiTime had a negative return on equity of 10.21% and a negative net margin of 55.93%. On average, sell-side analysts expect that SiTime Co. will post -2.3 earnings per share for the current fiscal year.

SiTime Company 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.