LMR Partners LLP Has $8.49 Million Stake in SiTime Co. (NASDAQ:SITM)

LMR Partners LLP lowered its position in SiTime Co. (NASDAQ:SITM - Free Report) by 50.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,584 shares of the company's stock after selling 40,916 shares during the quarter. LMR Partners LLP owned approximately 0.17% of SiTime worth $8,492,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its position in shares of SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after buying an additional 16,964 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after purchasing an additional 206 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in SiTime during the fourth quarter worth approximately $538,000. Proficio Capital Partners LLC acquired a new position in SiTime during the fourth quarter valued at approximately $4,418,000. Finally, M&T Bank Corp bought a new position in shares of SiTime in the fourth quarter valued at approximately $235,000. 84.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,268 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $184.92, for a total transaction of $234,478.56. Following the sale, the insider now directly owns 112,316 shares of the company's stock, valued at $20,769,474.72. This represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total value of $163,630.32. Following the transaction, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. This trade represents a 1.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,074 shares of company stock valued at $1,195,421. 2.30% of the stock is owned by insiders.

Analysts Set New Price Targets

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

SiTime Stock Performance

Shares of NASDAQ:SITM traded up $4.67 on Friday, hitting $210.67. 352,049 shares of the company were exchanged, compared to its average volume of 244,112. The company's 50 day moving average price is $157.02 and its two-hundred day moving average price is $190.14. SiTime Co. has a one year low of $105.40 and a one year high of $268.18. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of -52.02 and a beta of 2.24.

SiTime (NASDAQ:SITM - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.15. The business had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The firm's revenue was up 82.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) EPS. Research analysts predict that SiTime Co. 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.