Universal Beteiligungs und Servicegesellschaft mbH Sells 20,980 Shares of SiTime Corporation (NASDAQ:SITM)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in SiTime Corporation by 66.9% during the first quarter, now holding 10,403 shares valued at approximately $1.59 million.
• SiTime's stock performance remains strong with a 52-week revenue increase of 82.7%, and the company reported earnings per share of $0.26, exceeding expectations.
• Brokerages have adjusted their price targets for SiTime, with Stifel Nicolaus raising theirs to $230 per share, while the consensus target price is set at $228.

Universal Beteiligungs und Servicegesellschaft mbH cut its position in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 66.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,403 shares of the company's stock after selling 20,980 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH's holdings in SiTime were worth $1,590,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC increased its stake in SiTime by 80.9% during the 1st quarter. GAMMA Investing LLC now owns 1,708 shares of the company's stock worth $261,000 after buying an additional 764 shares during the period. Wells Fargo & Company MN grew its holdings in SiTime by 25.5% during the 4th quarter. Wells Fargo & Company MN now owns 14,788 shares of the company's stock worth $3,172,000 after acquiring an additional 3,004 shares in the last quarter. Rhumbline Advisers grew its holdings in SiTime by 0.9% during the 1st quarter. Rhumbline Advisers now owns 51,143 shares of the company's stock worth $7,818,000 after acquiring an additional 440 shares in the last quarter. Millennium Management LLC grew its holdings in SiTime by 205.0% during the 4th quarter. Millennium Management LLC now owns 7,344 shares of the company's stock worth $1,576,000 after acquiring an additional 4,936 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in SiTime during the 4th quarter worth approximately $217,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction that occurred on 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 owned 72,021 shares of the company's stock, valued at $14,404,200. The trade was a 5.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lionel Bonnot sold 1,991 shares of SiTime stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $201.36, for a total value of $400,907.76. Following the sale, the insider owned 82,579 shares in the company, valued at $16,628,107.44. This trade represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,551 shares of company stock valued at $13,413,996. Corporate insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

SITM has been the topic of a number of research reports. Stifel Nicolaus increased their price objective 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. Barclays raised their price target on shares of SiTime from $135.00 to $180.00 and gave the company an "underweight" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.00.

SiTime Stock Performance

NASDAQ:SITM traded up $4.97 during mid-day trading on Monday, hitting $198.06. The company had a trading volume of 47,178 shares, compared to its average volume of 315,297. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $268.18. The business's fifty day moving average is $207.89 and its two-hundred day moving average is $185.44. The firm has a market cap of $4.70 billion, a P/E ratio of -52.12 and a beta of 2.20.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating 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 return on equity of 9.43% and a negative net margin of 38.60%. The firm's quarterly revenue was up 82.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) EPS. Equities analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current year.

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.