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 trimmed its position in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 66.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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.

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

SiTime Price Performance

Shares of SITM traded down $9.76 on Friday, hitting $193.09. The company's stock had a trading volume of 403,869 shares, compared to its average volume of 247,587. The company has a 50 day moving average price of $207.89 and a 200 day moving average price of $186.23. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $268.18. The company has a market capitalization of $4.58 billion, a PE ratio of -50.81 and a beta of 2.20.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly 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. The company had revenue of $60.31 million for 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 quarter in the prior year, the business posted ($0.08) EPS. On average, equities analysts forecast that SiTime Corporation will post -2.44 EPS for the current year.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 5,112 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $205.53, for a total value of $1,050,669.36. Following the completion of the sale, the insider owned 107,204 shares in the company, valued at $22,033,638.12. This represents a 4.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vincent P. Pangrazio sold 5,026 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $204.55, for a total transaction of $1,028,068.30. Following the completion of the sale, the insider owned 64,842 shares of the company's stock, valued at approximately $13,263,431.10. This represents a 7.19% decrease in their position. 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 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SITM shares. Stifel Nicolaus increased their target price on shares of SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Barclays increased their target price on shares of SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, SiTime presently has a consensus rating of "Moderate Buy" and a consensus price target of $228.00.

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.