SiTime Co. (NASDAQ:SITM) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,230 shares of the company's stock after selling 6,304 shares during the quarter. Jennison Associates LLC owned about 1.12% of SiTime worth $44,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its stake in shares of SiTime by 47.0% during the first quarter. Russell Investments Group Ltd. now owns 7,754 shares of the company's stock worth $723,000 after acquiring an additional 2,480 shares during the last quarter. ProShare Advisors LLC grew its position in SiTime by 9.5% during the 1st quarter. ProShare Advisors LLC now owns 3,574 shares of the company's stock worth $333,000 after purchasing an additional 311 shares during the last quarter. Vanguard Group Inc. increased its stake in SiTime by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company's stock valued at $205,412,000 after purchasing an additional 85,800 shares in the last quarter. UniSuper Management Pty Ltd purchased a new position in shares of SiTime in the first quarter worth $363,000. Finally, Bessemer Group Inc. lifted its stake in shares of SiTime by 70.1% during the first quarter. Bessemer Group Inc. now owns 1,213 shares of the company's stock worth $113,000 after buying an additional 500 shares during the period. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SiTime

In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $170.07, for a total value of $3,401,400.00. Following the sale, the chief executive officer now owns 424,417 shares of the company's stock, valued at $72,180,599.19. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Fariborz Assaderaghi sold 1,000 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.16, for a total value of $210,160.00. Following the transaction, the insider now owns 108,574 shares of the company's stock, valued at approximately $22,817,911.84. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,234 shares of company stock worth $6,454,237 in the last quarter. Company insiders own 2.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Needham & Company LLC upped their target price on SiTime from $140.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Stifel Nicolaus increased their price objective on SiTime from $175.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Barclays lifted their target price on SiTime from $90.00 to $130.00 and gave the stock an "underweight" rating in a report on Friday, November 8th. Finally, 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.

SiTime Price Performance

SITM stock traded up $0.34 during trading on Friday, hitting $210.84. 76,958 shares of the company traded hands, compared to its average volume of 203,543. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $228.12. The stock's 50-day simple moving average is $181.55 and its 200 day simple moving average is $148.79. The company has a market cap of $4.93 billion, a PE ratio of -50.85 and a beta of 1.83.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating 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. SiTime's quarterly revenue was up 62.4% on a year-over-year basis. Research analysts expect that SiTime Co. will post -2.98 earnings per share for the current year.

SiTime 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.