UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 7,475 Shares of SiTime Co. (NASDAQ:SITM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,389 shares of the company's stock after purchasing an additional 7,475 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.19% of SiTime worth $9,523,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SITM. Blue Trust Inc. increased its holdings in SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after purchasing an additional 67 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of SiTime during the fourth quarter valued at approximately $58,000. Smartleaf Asset Management LLC increased its holdings in shares of SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after acquiring an additional 206 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of SiTime during the fourth quarter valued at approximately $81,000. Finally, AlphaQuest LLC increased its holdings in shares of SiTime by 8,460.0% during the fourth quarter. AlphaQuest LLC now owns 428 shares of the company's stock valued at $92,000 after acquiring an additional 423 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors.

SiTime Trading Down 1.3%

SiTime stock traded down $2.71 during trading on Wednesday, hitting $202.78. 203,855 shares of the company were exchanged, compared to its average volume of 246,890. The business's 50 day moving average is $165.34 and its 200 day moving average is $190.84. SiTime Co. has a 52 week low of $105.40 and a 52 week high of $268.18. The company has a market capitalization of $4.81 billion, a P/E ratio of -50.07 and a beta of 2.24.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, insider Samsheer Ahamad sold 4,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $200.00, for a total transaction of $800,000.00. Following the transaction, the insider now directly owns 72,021 shares in the company, valued at approximately $14,404,200. This represents a 5.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Piyush B. Sevalia sold 661 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $200.00, for a total value of $132,200.00. Following the transaction, the insider now owns 86,555 shares in the company, valued at $17,311,000. This trade represents a 0.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,779 shares of company stock valued at $10,591,318. Corporate insiders own 2.10% of the company's stock.

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.