Rice Hall James & Associates LLC Sells 7,211 Shares of SiTime Co. (NASDAQ:SITM)

Rice Hall James & Associates LLC decreased its position in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 14.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,083 shares of the company's stock after selling 7,211 shares during the quarter. Rice Hall James & Associates LLC owned about 0.19% of SiTime worth $7,561,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Signaturefd LLC lifted its holdings in SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company's stock worth $26,000 after purchasing an additional 60 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company's stock worth $29,000 after acquiring an additional 88 shares during the period. GAMMA Investing LLC boosted its holdings in shares of SiTime by 281.0% in the second quarter. GAMMA Investing LLC now owns 381 shares of the company's stock valued at $47,000 after acquiring an additional 281 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of SiTime during the second quarter valued at approximately $49,000. Finally, PNC Financial Services Group Inc. raised its holdings in SiTime by 35.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company's stock worth $84,000 after purchasing an additional 180 shares in the last quarter. Institutional investors own 84.31% of the company's stock.

SiTime Stock Up 1.3 %

SITM stock traded up $2.23 during midday trading on Friday, reaching $171.24. The company's stock had a trading volume of 107,958 shares, compared to its average volume of 203,089. The business's 50-day simple moving average is $163.20 and its 200-day simple moving average is $136.42. The stock has a market cap of $3.96 billion, a PE ratio of -42.08 and a beta of 1.82. SiTime Co. has a 52 week low of $72.39 and a 52 week 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 for the quarter, topping the consensus estimate of $0.04 by $0.08. The firm had revenue of $43.90 million for the quarter, compared to analyst estimates of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The company's revenue for the quarter was up 58.5% on a year-over-year basis. During the same period in the previous year, the company posted ($1.17) earnings per share. As a group, equities analysts forecast that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SiTime news, insider Piyush B. Sevalia sold 1,338 shares of the company's stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $180.00, for a total transaction of $240,840.00. Following the completion of the transaction, the insider now owns 86,196 shares of the company's stock, valued at $15,515,280. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Piyush B. Sevalia sold 1,338 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $180.00, for a total value of $240,840.00. Following the completion of the sale, the insider now owns 86,196 shares of the company's stock, valued at approximately $15,515,280. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.13, for a total value of $165,625.39. Following the transaction, the insider now directly owns 110,578 shares in the company, valued at approximately $18,259,745.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,464 shares of company stock worth $4,681,973. Corporate insiders own 2.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus upped their price target on shares of SiTime from $175.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Barclays downgraded shares of SiTime from an "equal weight" rating to an "underweight" rating and set a $90.00 price objective on the stock. in a research report on Tuesday, August 27th.

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.