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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,389 shares of the company's stock after acquiring an additional 7,475 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.19% of SiTime worth $9,523,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions 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 worth $529,535,000 after purchasing an additional 52,310 shares in the last quarter. Invesco Ltd. increased its holdings in shares of SiTime by 11.0% during the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company's stock worth $210,921,000 after buying an additional 97,062 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of SiTime by 16.1% in the 4th quarter. Ameriprise Financial Inc. now owns 515,735 shares of the company's stock valued at $110,641,000 after acquiring an additional 71,658 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of SiTime by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 442,897 shares of the company's stock valued at $95,037,000 after acquiring an additional 1,975 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its holdings in shares of SiTime by 27.0% during the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company's stock valued at $90,523,000 after acquiring an additional 89,632 shares in the last quarter. Institutional investors own 84.31% of the company's stock.

Analyst Ratings Changes

SITM has been the subject of several research reports. Stifel Nicolaus increased their target price on SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Barclays raised their price objective on shares of 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 target price on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Raymond James restated an "outperform" rating and issued a $250.00 price target (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat.com, SiTime presently has an average rating of "Moderate Buy" and a consensus target price of $215.00.

SiTime Stock Performance

Shares of SITM stock traded up $2.17 on Wednesday, hitting $207.66. The company had a trading volume of 64,479 shares, compared to its average volume of 245,761. SiTime Co. has a twelve month low of $105.40 and a twelve month high of $268.18. The firm has a market cap of $4.93 billion, a P/E ratio of -51.33 and a beta of 2.24. The stock's 50-day moving average is $164.33 and its two-hundred day moving average is $190.75.

SiTime (NASDAQ:SITM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share 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 during the quarter, compared to the consensus estimate of $54.01 million. During the same quarter in the prior year, the firm posted ($0.08) EPS. The company's revenue for the quarter was up 82.7% compared to the same quarter last year. Equities research analysts predict that SiTime Co. will post -2.44 EPS for the current year.

Insider Activity

In other news, insider Piyush B. Sevalia sold 661 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $200.00, for a total transaction of $132,200.00. Following the transaction, the insider now owns 86,555 shares in the company, valued at approximately $17,311,000. This represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajesh Vashist sold 20,000 shares of the stock in a transaction dated 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 in the company, valued at $103,285,908. This trade represents a 3.92% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,779 shares of company stock valued at $10,591,318. 2.10% of the stock is currently owned by insiders.

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.