Schwartz Investment Counsel Inc. Sells 40,045 Shares of SiTime Co. (NASDAQ:SITM)

Schwartz Investment Counsel Inc. cut its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 50.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,000 shares of the company's stock after selling 40,045 shares during the quarter. Schwartz Investment Counsel Inc. owned approximately 0.17% of SiTime worth $6,860,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in shares of SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company's stock worth $26,000 after acquiring an additional 60 shares during the period. Nisa Investment Advisors LLC increased its position in shares of SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company's stock valued at $29,000 after buying an additional 88 shares during the period. American International Group Inc. lifted its holdings in shares of SiTime by 1.2% in the first quarter. American International Group Inc. now owns 9,566 shares of the company's stock worth $892,000 after buying an additional 110 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of SiTime by 35.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company's stock valued at $84,000 after acquiring an additional 180 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in shares of SiTime by 2.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the company's stock valued at $1,107,000 after purchasing an additional 200 shares in the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Price Performance

SiTime stock traded down $2.22 during trading hours on Friday, reaching $178.93. The company had a trading volume of 129,129 shares, compared to its average volume of 205,221. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -43.32 and a beta of 1.82. The company has a 50-day moving average price of $160.03 and a 200 day moving average price of $133.76. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $188.98.

SiTime (NASDAQ:SITM - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.08. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The company had revenue of $43.90 million for the quarter, compared to analysts' expectations of $41.01 million. During the same period last year, the firm earned ($1.17) earnings per share. SiTime's quarterly revenue was up 58.5% on a year-over-year basis. As a group, research analysts expect that SiTime Co. will post -3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SITM. Barclays lowered SiTime from an "equal weight" rating to an "underweight" rating and set a $90.00 price objective for the company. in a research note on Tuesday, August 27th. Stifel Nicolaus raised their price target on SiTime from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, October 17th.

Insider Activity

In related news, insider Piyush B. Sevalia sold 1,338 shares of SiTime stock in a transaction on Friday, September 27th. The shares were sold at an average price of $180.00, for a total value of $240,840.00. Following the sale, the insider now owns 86,196 shares in the company, valued at $15,515,280. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $143.31, for a total value of $155,204.73. Following the completion of the transaction, the insider now owns 103,103 shares of the company's stock, valued at approximately $14,775,690.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Piyush B. Sevalia sold 1,338 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $180.00, for a total value of $240,840.00. Following the completion of the transaction, the insider now owns 86,196 shares of the company's stock, valued at approximately $15,515,280. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,547 shares of company stock valued at $5,361,178. Company insiders own 2.30% of the company's stock.

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.