Bank of America Corp DE Has $5.86 Million Stock Holdings in SiTime Co. (NASDAQ:SITM)

Bank of America Corp DE cut its stake in SiTime Co. (NASDAQ:SITM - Free Report) by 41.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,295 shares of the company's stock after selling 19,148 shares during the quarter. Bank of America Corp DE owned approximately 0.12% of SiTime worth $5,856,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SITM. Invesco Ltd. lifted its stake in shares of SiTime by 11.0% during the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company's stock worth $210,921,000 after buying an additional 97,062 shares during the last quarter. Hood River Capital Management LLC lifted its stake in shares of SiTime by 27.0% during the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company's stock worth $90,523,000 after buying an additional 89,632 shares during the last quarter. Emerald Advisers LLC acquired a new stake in shares of SiTime during the 4th quarter worth about $18,673,000. Capital World Investors acquired a new stake in shares of SiTime during the 4th quarter worth about $17,654,000. Finally, Federated Hermes Inc. acquired a new stake in shares of SiTime during the 4th quarter worth about $15,446,000. Institutional investors and hedge funds own 84.31% of the company's stock.

Analyst Ratings Changes

SITM has been the subject of a number of research reports. Barclays raised their target price on shares of SiTime from $110.00 to $135.00 and gave the stock an "underweight" rating in a research note on Thursday, May 8th. Raymond James restated an "outperform" rating and set a $250.00 target price (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC raised their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus raised their price target on shares of SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $215.00.

SiTime Stock Performance

NASDAQ:SITM traded down $0.58 during mid-day trading on Thursday, reaching $197.08. 113,843 shares of the company's stock were exchanged, compared to its average volume of 245,604. SiTime Co. has a one year low of $105.40 and a one year high of $268.18. The firm has a market capitalization of $4.68 billion, a PE ratio of -48.66 and a beta of 2.24. The business's fifty day simple moving average is $162.78 and its two-hundred day simple moving average is $190.99.

SiTime (NASDAQ:SITM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.11 by $0.15. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The firm had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. During the same period last year, the firm earned ($0.08) EPS. The business's quarterly revenue was up 82.7% compared to the same quarter last year. As a group, equities research analysts forecast that SiTime Co. will post -2.44 EPS for the current year.

Insider Buying and Selling at SiTime

In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $210.65, for a total value of $4,213,000.00. Following the transaction, the chief executive officer now directly owns 490,320 shares of the company's stock, valued at $103,285,908. This trade represents a 3.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 1,267 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $147.80, for a total transaction of $187,262.60. Following the completion of the transaction, the insider now directly owns 113,584 shares in the company, valued at approximately $16,787,715.20. This represents a 1.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,495 shares of company stock valued at $9,500,531 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

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.