Amica Mutual Insurance Co. Acquires 2,437 Shares of SiTime Co. (NASDAQ:SITM)

Amica Mutual Insurance Co. increased its holdings in shares of SiTime Co. (NASDAQ:SITM) by 47.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,612 shares of the company’s stock after acquiring an additional 2,437 shares during the quarter. Amica Mutual Insurance Co.’s holdings in SiTime were worth $929,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SITM. Yousif Capital Management LLC increased its holdings in SiTime by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 8,554 shares of the company’s stock worth $1,044,000 after buying an additional 95 shares during the last quarter. Amalgamated Bank grew its stake in shares of SiTime by 1.5% during the 3rd quarter. Amalgamated Bank now owns 7,606 shares of the company’s stock worth $869,000 after acquiring an additional 113 shares during the period. Arizona State Retirement System raised its stake in SiTime by 2.5% in the 3rd quarter. Arizona State Retirement System now owns 4,687 shares of the company’s stock valued at $535,000 after acquiring an additional 115 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in SiTime by 2.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 4,287 shares of the company’s stock valued at $490,000 after purchasing an additional 120 shares during the last quarter. Finally, Pathstone Family Office LLC boosted its position in SiTime by 5.9% during the third quarter. Pathstone Family Office LLC now owns 2,410 shares of the company’s stock worth $275,000 after purchasing an additional 135 shares during the period. Institutional investors own 84.31% of the company’s stock.

SiTime Price Performance

Shares of NASDAQ:SITM traded up $1.57 on Monday, hitting $90.36. The company’s stock had a trading volume of 175,368 shares, compared to its average volume of 206,826. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $141.99. The company has a market capitalization of $2.07 billion, a PE ratio of -24.89 and a beta of 1.78. The company has a 50-day simple moving average of $88.73 and a 200 day simple moving average of $105.11.

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

Insider Buying and Selling at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,288 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total transaction of $116,654.16. Following the transaction, the insider now directly owns 111,491 shares in the company, valued at $10,097,739.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

SITM has been the subject of several analyst reports. Barclays raised their price objective on shares of SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Stifel Nicolaus upped their price target on SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, SiTime presently has a consensus rating of “Moderate Buy” and an average price target of $142.00.

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.