Premier Fund Managers Ltd Decreases Holdings in SiTime Corporation (NASDAQ:SITM)

Premier Fund Managers Ltd reduced its position in SiTime Corporation (NASDAQ:SITM - Free Report) by 51.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,005 shares of the company's stock after selling 4,248 shares during the quarter. Premier Fund Managers Ltd's holdings in SiTime were worth $610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new stake in SiTime in the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in SiTime in the first quarter worth approximately $32,000. Aster Capital Management DIFC Ltd bought a new position in shares of SiTime in the fourth quarter valued at $58,000. CWM LLC lifted its position in shares of SiTime by 69.0% during the 1st quarter. CWM LLC now owns 453 shares of the company's stock valued at $69,000 after acquiring an additional 185 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of SiTime during the 4th quarter worth $81,000. 84.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SITM. Barclays boosted their target price on shares of SiTime from $135.00 to $180.00 and gave the company an "underweight" rating in a research note on Wednesday, June 11th. Stifel Nicolaus boosted their target price on shares of SiTime from $210.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $228.00.

Insider Buying and Selling at SiTime

In other news, insider Samsheer Ahamad sold 4,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $200.00, for a total transaction of $800,000.00. Following the completion of the sale, the insider owned 72,021 shares of the company's stock, valued at approximately $14,404,200. This represents a 5.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Piyush B. Sevalia sold 1,039 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $220.00, for a total transaction of $228,580.00. Following the transaction, the insider owned 85,516 shares of the company's stock, valued at approximately $18,813,520. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,551 shares of company stock worth $13,413,996 in the last ninety days. Insiders own 2.10% of the company's stock.

SiTime Price Performance

SITM stock traded down $9.76 during midday trading on Friday, hitting $193.09. The company's stock had a trading volume of 403,869 shares, compared to its average volume of 317,186. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $268.18. The company's fifty day moving average price is $207.98 and its 200 day moving average price is $186.51. The stock has a market capitalization of $4.58 billion, a P/E ratio of -50.81 and a beta of 2.20.

SiTime (NASDAQ:SITM - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.11 by $0.15. The business had revenue of $60.31 million during the quarter, compared to the consensus estimate of $54.01 million. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. SiTime's revenue was up 82.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) EPS. Equities analysts expect that SiTime Corporation will post -2.44 EPS for the current fiscal year.

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.