Castleark Management LLC Sells 4,518 Shares of SiTime Co. (NASDAQ:SITM)

Castleark Management LLC reduced its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,762 shares of the company's stock after selling 4,518 shares during the quarter. Castleark Management LLC owned 0.13% of SiTime worth $5,276,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Driehaus Capital Management LLC bought a new stake in SiTime in the 2nd quarter valued at $16,831,000. William Blair Investment Management LLC increased its holdings in SiTime by 62.0% in the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company's stock valued at $25,883,000 after buying an additional 79,648 shares during the period. F M Investments LLC bought a new stake in SiTime in the 2nd quarter valued at $8,909,000. LMR Partners LLP increased its holdings in SiTime by 705.0% in the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company's stock valued at $13,807,000 after buying an additional 70,500 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after buying an additional 59,931 shares during the period. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Stock Up 5.6 %

NASDAQ:SITM traded up $12.36 during mid-day trading on Friday, reaching $231.88. 277,352 shares of the company were exchanged, compared to its average volume of 199,050. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $233.52. The company has a fifty day moving average of $193.26 and a 200 day moving average of $156.62. The stock has a market cap of $5.42 billion, a PE ratio of -56.01 and a beta of 1.86.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The firm had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. During the same quarter in the prior year, the firm earned ($0.81) EPS. The company's revenue was up 62.4% on a year-over-year basis. On average, equities research analysts anticipate that SiTime Co. will post -2.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other SiTime news, Director Torsten Kreindl sold 6,000 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the transaction, the director now directly owns 13,511 shares in the company, valued at approximately $2,984,039.46. This represents a 30.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 363 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $216.25, for a total transaction of $78,498.75. Following the transaction, the insider now owns 104,322 shares in the company, valued at approximately $22,559,632.50. The trade was a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,516 shares of company stock valued at $6,599,428 in the last 90 days. 2.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SITM has been the topic of several analyst reports. Needham & Company LLC boosted their price target on shares of SiTime from $140.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Roth Mkm upped their target price on shares of SiTime from $205.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Stifel Nicolaus upped their target price on shares of SiTime from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Finally, Barclays upped their target price on shares of SiTime from $90.00 to $130.00 and gave the stock an "underweight" rating in a report on Friday, November 8th.

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.