Motley Fool Asset Management LLC Sells 4,967 Shares of SiTime Corporation $SITM

Motley Fool Asset Management LLC trimmed its holdings in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 38.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,792 shares of the company's stock after selling 4,967 shares during the quarter. Motley Fool Asset Management LLC's holdings in SiTime were worth $2,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SITM. Norges Bank bought a new stake in shares of SiTime during the fourth quarter worth $83,977,000. Wellington Management Group LLP lifted its position in shares of SiTime by 36.8% during the third quarter. Wellington Management Group LLP now owns 537,741 shares of the company's stock worth $162,027,000 after purchasing an additional 144,671 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company's stock worth $156,887,000 after purchasing an additional 132,948 shares during the last quarter. FengHe Fund Management Pte. Ltd. bought a new stake in shares of SiTime during the fourth quarter worth $45,346,000. Finally, Vanguard Group Inc. raised its holdings in shares of SiTime by 4.7% in the third quarter. Vanguard Group Inc. now owns 2,764,066 shares of the company's stock valued at $832,841,000 after acquiring an additional 123,287 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SITM has been the subject of several recent research reports. Zacks Research upgraded SiTime from a "hold" rating to a "strong-buy" rating in a report on Friday, May 15th. Roth Mkm restated a "buy" rating and issued a $900.00 price objective on shares of SiTime in a report on Thursday, May 7th. The Goldman Sachs Group restated a "buy" rating and issued a $800.00 price objective on shares of SiTime in a report on Thursday, May 7th. Wall Street Zen upgraded SiTime from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, Needham & Company LLC lifted their price objective on SiTime from $450.00 to $850.00 and gave the company a "buy" rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $661.88.

SiTime Stock Performance

Shares of SiTime stock opened at $664.23 on Thursday. The company has a market capitalization of $17.54 billion, a PE ratio of -657.65 and a beta of 2.94. The company has a 50-day simple moving average of $603.01 and a two-hundred day simple moving average of $446.40. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81.

SiTime (NASDAQ:SITM - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.30. The business had revenue of $113.57 million during the quarter, compared to the consensus estimate of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The firm's revenue was up 88.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 earnings per share. On average, equities analysts predict that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SiTime news, Director Akira Takata sold 1,500 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $860.86, for a total value of $1,291,290.00. Following the completion of the transaction, the director directly owned 12,234 shares in the company, valued at approximately $10,531,761.24. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Piyush B. Sevalia sold 2,419 shares of the business's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $484.05, for a total transaction of $1,170,916.95. Following the completion of the transaction, the insider owned 84,250 shares of the company's stock, valued at $40,781,212.50. This represents a 2.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 52,624 shares of company stock valued at $35,942,053 in the last three months. 1.40% of the stock is currently owned by insiders.

About SiTime

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime's products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company's timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.

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