UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $6.33 Million Stake in SiTime Co. (NASDAQ:SITM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 20.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,914 shares of the company's stock after selling 9,660 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of SiTime worth $6,331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC acquired a new position in SiTime in the second quarter valued at about $16,831,000. William Blair Investment Management LLC grew its holdings in SiTime by 62.0% during the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company's stock valued at $25,883,000 after purchasing an additional 79,648 shares during the period. F M Investments LLC bought a new stake in SiTime in the second quarter valued at approximately $8,909,000. LMR Partners LLP boosted its position in shares of SiTime by 705.0% during the third quarter. LMR Partners LLP now owns 80,500 shares of the company's stock worth $13,807,000 after purchasing an additional 70,500 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after buying an additional 59,931 shares during the period. 84.31% of the stock is owned by institutional investors.

SiTime Price Performance

NASDAQ:SITM traded up $17.15 on Wednesday, hitting $261.03. 428,987 shares of the company's stock were exchanged, compared to its average volume of 205,250. The firm has a 50-day moving average price of $198.22 and a 200-day moving average price of $159.10. The company has a market cap of $6.10 billion, a P/E ratio of -63.05 and a beta of 1.86. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $264.50.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping 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 company had revenue of $57.70 million for the quarter, compared to analysts' expectations of $55.10 million. During the same quarter in the prior year, the business posted ($0.81) EPS. The business's revenue was up 62.4% compared to the same quarter last year. On average, research analysts expect that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SiTime news, Director Torsten Kreindl sold 6,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the completion of the sale, the director now directly owns 13,511 shares in the company, valued at $2,984,039.46. This trade represents a 30.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 1,002 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $216.85, for a total value of $217,283.70. Following the completion of the transaction, the insider now directly owns 102,683 shares in the company, valued at $22,266,808.55. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,513 shares of company stock worth $6,459,008. Company insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SITM. Stifel Nicolaus boosted 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. Roth Mkm increased their target price on SiTime from $205.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Barclays lifted their price target on shares of SiTime from $90.00 to $130.00 and gave the company an "underweight" rating in a research note on Friday, November 8th. Finally, Needham & Company LLC increased their price objective on shares of SiTime from $140.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th.

About SiTime

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.