UBS Group AG Sells 24,849 Shares of SiTime Corporation $SITM

Key Points

• UBS Group AG reduced its stake in SiTime by 14.7%, selling 24,849 shares and now holds 143,642 shares (~0.55% of the company) valued at $50.73 million.
• SiTime beat Q4 expectations with $1.53 EPS vs. $1.20 expected and revenue of $113.3M (up 66.3% YoY), though the company still reports a negative net margin (-13.13%).
• Analyst sentiment is broadly positive—seven Buys, one Hold and one Sell—with an average price target of $415.63, and several firms (UBS, Stifel) recently raised their targets.

UBS Group AG cut its position in SiTime Corporation (NASDAQ:SITM - Free Report) by 14.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,642 shares of the company's stock after selling 24,849 shares during the quarter. UBS Group AG owned about 0.55% of SiTime worth $50,733,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Optiver Holding B.V. raised its stake in shares of SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company's stock valued at $27,000 after buying an additional 32 shares during the period. Atlas Brown Inc. raised its holdings in SiTime by 1.6% during the 4th quarter. Atlas Brown Inc. now owns 2,292 shares of the company's stock valued at $810,000 after acquiring an additional 37 shares during the period. CWM LLC raised its holdings in SiTime by 4.2% during the 4th quarter. CWM LLC now owns 951 shares of the company's stock valued at $336,000 after acquiring an additional 38 shares during the period. Verdence Capital Advisors LLC raised its holdings in SiTime by 3.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,118 shares of the company's stock valued at $309,000 after acquiring an additional 40 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of SiTime by 27.4% during the 3rd quarter. Bessemer Group Inc. now owns 186 shares of the company's stock valued at $55,000 after purchasing an additional 40 shares during the period. 84.31% of the stock is currently owned by institutional investors.

SiTime Price Performance

Shares of NASDAQ:SITM opened at $596.64 on Wednesday. SiTime Corporation has a one year low of $158.63 and a one year high of $599.02. The company's fifty day moving average price is $410.13 and its 200-day moving average price is $364.59. The firm has a market capitalization of $15.75 billion, a price-to-earnings ratio of -327.82 and a beta of 2.91.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.33. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The business had revenue of $113.29 million for the quarter, compared to analysts' expectations of $101.91 million. During the same period last year, the business earned $0.48 earnings per share. The business's quarterly revenue was up 66.3% on a year-over-year basis. As a group, equities research analysts expect that SiTime Corporation will post 1.31 EPS for the current year.

Insider Buying and Selling at SiTime

In other SiTime news, insider Samsheer Ahamad sold 9,100 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $441.47, for a total transaction of $4,017,377.00. Following the transaction, the insider directly owned 52,938 shares in the company, valued at $23,370,538.86. This trade represents a 14.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 4,984 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $406.45, for a total transaction of $2,025,746.80. Following the transaction, the insider owned 89,194 shares in the company, valued at $36,252,901.30. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 26,178 shares of company stock valued at $11,282,324. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SITM has been the topic of a number of analyst reports. UBS Group boosted their price objective on SiTime from $430.00 to $485.00 and gave the company a "buy" rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of SiTime in a research note on Tuesday, April 21st. Stifel Nicolaus boosted their price objective on SiTime from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Wall Street Zen cut shares of SiTime from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Finally, Needham & Company LLC upped their price target on shares of SiTime from $400.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, SiTime currently has an average rating of "Moderate Buy" and an average target price of $415.63.

About SiTime

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime's products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company's timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.

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