Royce & Associates LP trimmed its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 87.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,672 shares of the company's stock after selling 60,414 shares during the period. Royce & Associates LP's holdings in SiTime were worth $1,487,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SITM. CANADA LIFE ASSURANCE Co grew its holdings in SiTime by 31.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company's stock valued at $1,712,000 after purchasing an additional 4,410 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of SiTime during the 1st quarter worth about $363,000. Swedbank AB purchased a new stake in SiTime during the first quarter worth approximately $2,144,000. Vanguard Group Inc. lifted its stake in shares of SiTime by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company's stock worth $205,412,000 after purchasing an additional 85,800 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of SiTime by 8.0% in the second quarter. Public Sector Pension Investment Board now owns 38,743 shares of the company's stock worth $4,819,000 after buying an additional 2,861 shares during the period. Institutional investors and hedge funds own 84.31% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Barclays increased their price objective on shares of SiTime from $90.00 to $130.00 and gave the company an "underweight" rating in a research report on Friday, November 8th. Stifel Nicolaus raised their target price on SiTime from $175.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Needham & Company LLC boosted their price target on SiTime from $140.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Roth Mkm increased their price target on SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, November 7th.
View Our Latest Stock Report on SITM
Insider Activity
In other news, insider Lionel Bonnot sold 3,230 shares of the company's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $140.55, for a total value of $453,976.50. Following the completion of the sale, the insider now directly owns 87,525 shares of the company's stock, valued at approximately $12,301,638.75. This represents a 3.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,003 shares of the business's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $140.00, for a total value of $140,420.00. Following the sale, the insider now directly owns 111,581 shares in the company, valued at approximately $15,621,340. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,464 shares of company stock valued at $6,698,053. 2.30% of the stock is currently owned by company insiders.
SiTime Stock Performance
Shares of SiTime stock traded down $2.31 during trading on Wednesday, reaching $206.18. The company had a trading volume of 29,736 shares, compared to its average volume of 203,799. The firm's fifty day moving average is $178.84 and its 200-day moving average is $147.93. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $228.12. The company has a market cap of $4.82 billion, a price-to-earnings ratio of -50.36 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 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. During the same quarter in the prior year, the business earned ($0.81) earnings per share. SiTime's quarterly revenue was up 62.4% on a year-over-year basis. On average, research analysts anticipate that SiTime Co. will post -2.98 EPS for the current fiscal year.
SiTime Profile
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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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