Mitsubishi UFJ Asset Management Co. Ltd. Has $4.92 Million Stake in SiTime Corporation (NASDAQ:SITM)

Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 13.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,200 shares of the company's stock after selling 4,900 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.14% of SiTime worth $4,922,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC increased its position in SiTime by 13.1% during the 4th quarter. LPL Financial LLC now owns 2,211 shares of the company's stock worth $474,000 after purchasing an additional 256 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in SiTime by 3.9% during the 4th quarter. JPMorgan Chase & Co. now owns 22,199 shares of the company's stock valued at $4,762,000 after purchasing an additional 834 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of SiTime by 25.5% during the fourth quarter. Wells Fargo & Company MN now owns 14,788 shares of the company's stock worth $3,172,000 after acquiring an additional 3,004 shares during the last quarter. Bank of Montreal Can raised its position in shares of SiTime by 15.6% in the 4th quarter. Bank of Montreal Can now owns 2,135 shares of the company's stock valued at $458,000 after purchasing an additional 288 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in SiTime during the 4th quarter valued at $2,446,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SiTime

In related news, insider Fariborz Assaderaghi sold 1,000 shares of SiTime stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $201.36, for a total value of $201,360.00. Following the transaction, the insider owned 101,319 shares of the company's stock, valued at approximately $20,401,593.84. This trade represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth A. Howe sold 1,500 shares of SiTime stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $208.00, for a total value of $312,000.00. Following the completion of the transaction, the executive vice president directly owned 71,474 shares in the company, valued at $14,866,592. This represents a 2.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,783 shares of company stock valued at $9,708,517 in the last quarter. 2.10% of the stock is owned by company insiders.

SiTime Price Performance

Shares of NASDAQ SITM traded down $5.30 during midday trading on Friday, reaching $221.44. 355,399 shares of the company traded hands, compared to its average volume of 388,986. SiTime Corporation has a 52 week low of $105.40 and a 52 week high of $268.18. The stock has a 50-day moving average price of $209.73 and a 200 day moving average price of $184.15. The company has a market cap of $5.76 billion, a price-to-earnings ratio of -63.63 and a beta of 2.20.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $69.49 million for the quarter, compared to analysts' expectations of $64.66 million. During the same period in the previous year, the business earned $0.12 earnings per share. The company's revenue was up 58.3% on a year-over-year basis. As a group, analysts expect that SiTime Corporation will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

SITM has been the topic of several research reports. UBS Group started coverage on SiTime in a research note on Thursday. They set a "buy" rating and a $260.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Barclays lifted their price target on shares of SiTime from $180.00 to $220.00 and gave the company an "underweight" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $240.00.

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.