Nuveen Asset Management LLC Lowers Holdings in SiTime Co. (NASDAQ:SITM)

Nuveen Asset Management LLC cut its stake in SiTime Co. (NASDAQ:SITM - Free Report) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,001 shares of the company's stock after selling 6,250 shares during the period. Nuveen Asset Management LLC owned about 0.20% of SiTime worth $9,869,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Barclays PLC increased its holdings in SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after purchasing an additional 16,964 shares during the period. Smartleaf Asset Management LLC grew its position in shares of 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 buying an additional 206 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of SiTime during the fourth quarter valued at $538,000. Proficio Capital Partners LLC bought a new stake in shares of SiTime in the fourth quarter valued at about $4,418,000. Finally, M&T Bank Corp bought a new stake in shares of SiTime in the fourth quarter valued at about $235,000. 84.31% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Samsheer Ahamad sold 7,728 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $207.41, for a total value of $1,602,864.48. Following the sale, the insider now owns 78,095 shares in the company, valued at $16,197,683.95. This represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajesh Vashist sold 20,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $210.65, for a total transaction of $4,213,000.00. Following the transaction, the chief executive officer now directly owns 490,320 shares of the company's stock, valued at approximately $103,285,908. This trade represents a 3.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,495 shares of company stock valued at $9,500,531. Company insiders own 2.10% of the company's stock.

SiTime Stock Down 1.5%

Shares of SITM traded down $2.97 during mid-day trading on Friday, hitting $194.11. 314,794 shares of the company traded hands, compared to its average volume of 245,880. The company has a market capitalization of $4.60 billion, a PE ratio of -47.93 and a beta of 2.24. The business has a 50 day moving average of $162.96 and a 200 day moving average of $190.86. SiTime Co. has a 1-year low of $105.40 and a 1-year high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.15. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The business had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. During the same quarter in the prior year, the business posted ($0.08) EPS. SiTime's revenue for the quarter was up 82.7% compared to the same quarter last year. As a group, research analysts expect that SiTime Co. will post -2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SITM shares. Needham & Company LLC upped their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Stifel Nicolaus increased their price target on shares of SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Barclays lifted their price objective on shares of SiTime from $110.00 to $135.00 and gave the stock an "underweight" rating in a research report on Thursday, May 8th. Finally, Raymond James reissued an "outperform" rating and set a $250.00 target price (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average 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.