MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $8.52 Million Position in SiTime Co. (NASDAQ:SITM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,693 shares of the company's stock after selling 4,359 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.17% of SiTime worth $8,515,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC grew its holdings in shares of SiTime by 1.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company's stock valued at $615,000 after acquiring an additional 48 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of SiTime by 0.5% during the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company's stock valued at $2,307,000 after acquiring an additional 57 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after acquiring an additional 67 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of SiTime by 4.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company's stock valued at $417,000 after acquiring an additional 83 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of SiTime by 1.9% during the 4th quarter. Arizona State Retirement System now owns 5,368 shares of the company's stock valued at $1,152,000 after acquiring an additional 99 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Price Performance

NASDAQ:SITM traded down $6.44 during trading hours on Friday, reaching $197.59. The company's stock had a trading volume of 252,206 shares, compared to its average volume of 245,556. The company has a market cap of $4.69 billion, a price-to-earnings ratio of -48.79 and a beta of 2.24. SiTime Co. has a one year low of $105.40 and a one year high of $268.18. The business's 50-day moving average is $161.61 and its 200-day moving average is $191.30.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.15. The firm had revenue of $60.31 million during the quarter, compared to analysts' expectations of $54.01 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. SiTime's revenue for the quarter was up 82.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) earnings per share. On average, sell-side analysts predict that SiTime Co. will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at SiTime

In other SiTime news, insider Vincent P. Pangrazio sold 5,026 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $204.55, for a total transaction of $1,028,068.30. Following the completion of the sale, the insider now directly owns 64,842 shares in the company, valued at $13,263,431.10. This represents a 7.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tom Dang-Hsing Yiu sold 2,115 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $200.00, for a total transaction of $423,000.00. Following the sale, the director now owns 18,500 shares of the company's stock, valued at $3,700,000. This trade represents a 10.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,996 shares of company stock worth $10,110,581 over the last ninety days. Company insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on SITM shares. Barclays boosted their price target on shares of SiTime from $110.00 to $135.00 and gave the company an "underweight" rating in a report on Thursday, May 8th. Raymond James reiterated an "outperform" rating and issued a $250.00 price objective (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Stifel Nicolaus upped their price objective on shares of SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Needham & Company LLC upped their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $215.00.

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.