Oak Ridge Investments LLC Lowers Stake in SiTime Co. (NASDAQ:SITM)

Oak Ridge Investments LLC cut its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,846 shares of the company's stock after selling 1,799 shares during the quarter. Oak Ridge Investments LLC owned 0.08% of SiTime worth $3,829,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Driehaus Capital Management LLC purchased a new stake in shares of SiTime during the 2nd quarter worth $16,831,000. LMR Partners LLP lifted its stake in shares of SiTime by 705.0% in the third quarter. LMR Partners LLP now owns 80,500 shares of the company's stock valued at $13,807,000 after purchasing an additional 70,500 shares during the period. Principal Financial Group Inc. boosted its holdings in SiTime by 15.4% during the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock worth $76,996,000 after buying an additional 59,931 shares in the last quarter. Marshall Wace LLP grew its position in SiTime by 381.4% during the second quarter. Marshall Wace LLP now owns 60,650 shares of the company's stock worth $7,544,000 after buying an additional 48,051 shares during the period. Finally, FMR LLC increased its holdings in SiTime by 1.1% in the third quarter. FMR LLC now owns 3,469,843 shares of the company's stock valued at $595,113,000 after buying an additional 39,119 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company's stock.

Analysts Set New Price Targets

SITM has been the topic of several research analyst reports. Barclays boosted their price target on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research note on Friday. Stifel Nicolaus boosted their target price on SiTime from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Needham & Company LLC raised their price target on SiTime from $140.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Roth Mkm boosted their price objective on shares of SiTime from $205.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th.

Insiders Place Their Bets

In related news, insider Fariborz Assaderaghi sold 1,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.16, for a total transaction of $210,160.00. Following the transaction, the insider now directly owns 108,574 shares in the company, valued at approximately $22,817,911.84. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Vincent P. Pangrazio sold 3,064 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $255.00, for a total value of $781,320.00. Following the completion of the sale, the insider now directly owns 65,978 shares in the company, valued at approximately $16,824,390. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,931 shares of company stock valued at $7,017,644 in the last ninety days. Insiders own 2.30% of the company's stock.

SiTime Price Performance

NASDAQ:SITM traded up $8.04 during trading hours on Friday, reaching $250.97. 123,881 shares of the company traded hands, compared to its average volume of 196,014. The firm's 50-day moving average is $224.50 and its 200-day moving average is $179.97. The stock has a market cap of $5.86 billion, a P/E ratio of -60.62 and a beta of 1.82. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last posted 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 return on equity of 9.89% and a negative net margin of 53.55%. The business had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. During the same quarter last year, the company earned ($0.81) earnings per share. The business's revenue for the quarter was up 62.4% compared to the same quarter last year. As a group, research analysts predict 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.