MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 9.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 39,693 shares of the company's stock after selling 4,359 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.17% of SiTime worth $8,515,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SITM. Blue Trust Inc. increased its holdings in SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after purchasing an additional 67 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in SiTime during the 4th quarter worth approximately $58,000. Smartleaf Asset Management LLC increased its holdings in SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after purchasing an additional 206 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in SiTime during the 4th quarter worth approximately $81,000. Finally, AlphaQuest LLC increased its holdings in shares of SiTime by 8,460.0% in the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock valued at $92,000 after acquiring an additional 423 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Fariborz Assaderaghi sold 1,267 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $147.80, for a total value of $187,262.60. Following the completion of the sale, the insider now owns 113,584 shares in the company, valued at $16,787,715.20. This represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total value of $163,630.32. Following the sale, the insider now directly owns 92,847 shares of the company's stock, valued at approximately $14,636,401.08. This represents a 1.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,074 shares of company stock worth $5,408,421 over the last 90 days. 2.10% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on SITM. Raymond James reiterated an "outperform" rating and issued a $250.00 price target (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Needham & Company LLC upped their price objective on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Stifel Nicolaus upped their price objective on SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Barclays upped their price objective on SiTime from $110.00 to $135.00 and gave the stock an "underweight" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, SiTime has a consensus rating of "Moderate Buy" and a consensus target price of $215.00.
Get Our Latest Stock Report on SiTime
SiTime Stock Down 2.6%
SITM stock traded down $5.42 during trading on Wednesday, reaching $201.12. 194,854 shares of the company's stock were exchanged, compared to its average volume of 244,873. SiTime Co. has a 1-year low of $105.40 and a 1-year high of $268.18. The company's fifty day moving average price is $159.86 and its 200-day moving average price is $190.87. The firm has a market cap of $4.77 billion, a PE ratio of -49.66 and a beta of 2.24.
SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.15. The business had revenue of $60.31 million during the quarter, compared to analyst estimates of $54.01 million. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The company's revenue was up 82.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. As a group, sell-side analysts expect that SiTime Co. will post -2.44 earnings per share for the current fiscal year.
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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