Baird Financial Group Inc. lowered its position in SiTime Co. (NASDAQ:SITM - Free Report) by 42.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,861 shares of the company's stock after selling 8,755 shares during the period. Baird Financial Group Inc. owned 0.05% of SiTime worth $2,545,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in SITM. Blue Trust Inc. grew its position in shares of SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after buying an additional 67 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of SiTime during the fourth quarter valued at approximately $58,000. Smartleaf Asset Management LLC lifted its holdings in shares of SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after purchasing an additional 206 shares during the last quarter. AlphaQuest LLC grew its stake in shares of SiTime by 8,460.0% in the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after buying an additional 423 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in SiTime during the 4th quarter valued at approximately $130,000. 84.31% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have recently commented on SITM. Raymond James reissued an "outperform" rating and issued a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC raised their price objective on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Stifel Nicolaus upped their target price on shares of SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Barclays raised their price target on shares of SiTime from $110.00 to $135.00 and gave the company an "underweight" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $215.00.
Check Out Our Latest Research Report on SiTime
SiTime Stock Up 1.5%
SITM traded up $3.00 during midday trading on Thursday, hitting $206.00. 288,181 shares of the company traded hands, compared to its average volume of 243,418. The company's 50-day moving average is $155.91 and its 200 day moving average is $189.97. SiTime Co. has a 52 week low of $105.40 and a 52 week high of $268.18. The firm has a market capitalization of $4.89 billion, a PE ratio of -50.86 and a beta of 2.24.
SiTime (NASDAQ:SITM - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.15. The company had revenue of $60.31 million for the quarter, compared to analysts' expectations of $54.01 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The firm's quarterly revenue was up 82.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) earnings per share. On average, sell-side analysts predict that SiTime Co. will post -2.44 earnings per share for the current fiscal year.
Insider Activity at SiTime
In other news, insider Lionel Bonnot sold 3,501 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the transaction, the insider now owns 87,940 shares in the company, valued at $15,323,545. This represents a 3.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Fariborz Assaderaghi sold 1,268 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $184.92, for a total transaction of $234,478.56. Following the sale, the insider now owns 112,316 shares of the company's stock, valued at $20,769,474.72. This trade represents a 1.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,074 shares of company stock worth $1,195,421. 2.30% of the stock is owned by insiders.
About SiTime
(
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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