MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $4.16 Million Holdings in SiTime Corporation $SITM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in SiTime Corporation (NASDAQ:SITM) by 31.4%, holding approximately $4.16 million worth of shares after selling 12,474 during the first quarter.
• CEO Rajesh Vashist sold 2,000 shares at an average price of $232.00, while insider Samsheer Ahamad also sold 2,000 shares at $226.57, reflecting recent insider transactions amid a significant total of 17,500 shares sold within the last ninety days.
• SiTime's stock has recently been rated for strong performance by analysts, with targets for the stock price ranging from $220.00 to $270.00, contributing to a consensus rating of "Moderate Buy."

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in SiTime Corporation (NASDAQ:SITM - Free Report) by 31.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,219 shares of the company's stock after selling 12,474 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.11% of SiTime worth $4,161,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SITM. BNP Paribas Financial Markets bought a new stake in shares of SiTime in the 4th quarter valued at approximately $949,000. Balyasny Asset Management L.P. acquired a new stake in shares of SiTime during the fourth quarter worth approximately $318,000. Deutsche Bank AG increased its holdings in shares of SiTime by 22.9% during the fourth quarter. Deutsche Bank AG now owns 50,798 shares of the company's stock worth $10,898,000 after buying an additional 9,460 shares in the last quarter. Gotham Asset Management LLC increased its holdings in shares of SiTime by 392.6% during the fourth quarter. Gotham Asset Management LLC now owns 5,798 shares of the company's stock worth $1,244,000 after buying an additional 4,621 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in SiTime during the 4th quarter worth $81,000. Institutional investors own 84.31% of the company's stock.

Insiders Place Their Bets

In related news, EVP Elizabeth A. Howe sold 1,500 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $208.00, for a total value of $312,000.00. Following the sale, the executive vice president directly owned 71,474 shares of the company's stock, valued at approximately $14,866,592. The trade was a 2.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Samsheer Ahamad sold 3,811 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $255.03, for a total transaction of $971,919.33. Following the completion of the sale, the insider directly owned 58,077 shares in the company, valued at $14,811,377.31. This represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,367 shares of company stock worth $6,960,713 in the last ninety days. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on SITM. Raymond James Financial reaffirmed an "outperform" rating and set a $270.00 price objective (up previously from $250.00) on shares of SiTime in a report on Friday, August 29th. Barclays lifted their target price on shares of SiTime from $180.00 to $220.00 and gave the stock an "underweight" rating in a report on Thursday, August 7th. UBS Group initiated coverage on shares of SiTime in a report on Thursday, August 14th. They set a "buy" rating and a $260.00 target price for the company. Finally, Stifel Nicolaus lifted their target price on shares of SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $243.33.

SiTime Trading Up 0.6%

Shares of SITM stock traded up $1.43 on Friday, hitting $260.00. The stock had a trading volume of 257,427 shares, compared to its average volume of 332,581. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $268.18. The firm has a market cap of $6.76 billion, a P/E ratio of -74.71 and a beta of 2.18. The company has a fifty day moving average price of $217.76 and a two-hundred day moving average price of $192.01.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.18. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The company had revenue of $69.49 million during the quarter, compared to analyst estimates of $64.66 million. During the same quarter in the previous year, the business earned $0.12 EPS. The firm's revenue was up 58.3% on a year-over-year basis. On average, analysts expect that SiTime Corporation will post -2.44 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.