Nuveen Asset Management LLC Sells 6,250 Shares of SiTime Co. (NASDAQ:SITM)

Nuveen Asset Management LLC cut its stake in SiTime Co. (NASDAQ:SITM - Free Report) by 12.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SITM. Vanguard Group Inc. increased its position in SiTime by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company's stock valued at $529,535,000 after purchasing an additional 52,310 shares during the period. Invesco Ltd. increased its holdings in shares of SiTime by 11.0% in the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company's stock worth $210,921,000 after purchasing an additional 97,062 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of SiTime by 16.1% in the fourth quarter. Ameriprise Financial Inc. now owns 515,735 shares of the company's stock worth $110,641,000 after acquiring an additional 71,658 shares during the period. Geode Capital Management LLC raised its stake in SiTime by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 442,897 shares of the company's stock valued at $95,037,000 after buying an additional 1,975 shares during the last quarter. Finally, Hood River Capital Management LLC increased its holdings in SiTime by 27.0% during the fourth quarter. Hood River Capital Management LLC now owns 421,960 shares of the company's stock valued at $90,523,000 after buying an additional 89,632 shares during the last quarter. 84.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

SiTime Stock Down 1.5%

SITM traded down $2.97 on Friday, hitting $194.11. 314,794 shares of the company traded hands, compared to its average volume of 246,617. SiTime Co. has a 12-month low of $105.40 and a 12-month high of $268.18. The stock has a market capitalization of $4.60 billion, a PE ratio of -47.93 and a beta of 2.24. The company has a 50 day moving average of $163.12 and a 200-day moving average of $190.61.

SiTime (NASDAQ:SITM - Get Free Report) last posted its earnings results 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 company had revenue of $60.31 million for 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%. SiTime's revenue was up 82.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) earnings per share. On average, research analysts anticipate that SiTime Co. will post -2.44 EPS for the current year.

Insider Activity

In related news, insider Fariborz Assaderaghi sold 1,267 shares of the stock in a transaction dated 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 transaction, the insider now owns 113,584 shares of the company's stock, valued at approximately $16,787,715.20. This represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Torsten Kreindl sold 950 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $207.00, for a total value of $196,650.00. Following the completion of the sale, the director now directly owns 12,561 shares of the company's stock, valued at approximately $2,600,127. This represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,495 shares of company stock valued at $9,500,531 in the last three months. Corporate insiders own 2.10% of the company's stock.

About SiTime

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.