Eagle Asset Management Inc. decreased its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 57.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,502 shares of the company's stock after selling 45,211 shares during the period. Eagle Asset Management Inc. owned 0.14% of SiTime worth $5,746,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in shares of SiTime by 47.0% during the 1st quarter. Russell Investments Group Ltd. now owns 7,754 shares of the company's stock valued at $723,000 after acquiring an additional 2,480 shares in the last quarter. Vanguard Group Inc. grew its holdings in SiTime by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company's stock worth $205,412,000 after acquiring an additional 85,800 shares in the last quarter. Bessemer Group Inc. grew its stake in SiTime by 70.1% in the first quarter. Bessemer Group Inc. now owns 1,213 shares of the company's stock worth $113,000 after purchasing an additional 500 shares in the last quarter. American International Group Inc. increased its holdings in shares of SiTime by 1.2% in the 1st quarter. American International Group Inc. now owns 9,566 shares of the company's stock valued at $892,000 after acquiring an additional 110 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of SiTime by 31.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company's stock worth $1,712,000 after buying an additional 4,410 shares during the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at SiTime
In related news, insider Fariborz Assaderaghi sold 1,083 shares of the company's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total value of $150,591.15. Following the completion of the sale, the insider now directly owns 112,584 shares in the company, valued at approximately $15,654,805.20. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Torsten Kreindl sold 6,000 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $220.86, for a total value of $1,325,160.00. Following the transaction, the director now owns 13,511 shares in the company, valued at approximately $2,984,039.46. This trade represents a 30.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,234 shares of company stock worth $6,454,237 over the last 90 days. 2.30% of the stock is currently owned by corporate insiders.
SiTime Stock Up 2.0 %
SiTime stock traded up $4.19 during mid-day trading on Monday, hitting $215.27. The company's stock had a trading volume of 200,048 shares, compared to its average volume of 203,920. The firm's 50 day moving average is $182.84 and its 200 day moving average is $150.32. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $228.12.
SiTime (NASDAQ:SITM - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (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 company had revenue of $57.70 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. As a group, analysts expect that SiTime Co. will post -2.98 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms have issued reports on SITM. Barclays boosted their target price on shares of SiTime from $90.00 to $130.00 and gave the company an "underweight" rating in a research note on Friday, November 8th. Roth Mkm lifted their price objective on shares of SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Needham & Company LLC increased their price objective on shares of SiTime from $140.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus lifted their target price on SiTime from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, October 17th.
View Our Latest Stock Analysis on SiTime
SiTime Company Profile
(
Free Report)
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.
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