SiTime Co. (NASDAQ:SITM) Shares Sold by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC reduced its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 30.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,827 shares of the company's stock after selling 18,864 shares during the period. Frontier Capital Management Co. LLC owned approximately 0.19% of SiTime worth $9,402,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SITM. Barclays PLC lifted its holdings in shares of SiTime by 80.7% during the third quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after purchasing an additional 16,964 shares during the period. Smartleaf Asset Management LLC raised its position in SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after buying an additional 206 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in SiTime during the 4th quarter valued at approximately $538,000. Proficio Capital Partners LLC acquired a new stake in SiTime during the 4th quarter valued at approximately $4,418,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after acquiring an additional 59,931 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company's stock.

Insider Activity

In other news, insider Fariborz Assaderaghi sold 1,268 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $184.92, for a total value of $234,478.56. Following the completion of the sale, the insider now directly owns 112,316 shares in the company, valued at $20,769,474.72. This represents a 1.12% 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 Piyush B. Sevalia sold 1,038 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,074 shares of company stock worth $1,195,421 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.

SiTime Stock Down 0.1%

Shares of SITM stock traded down $0.20 during mid-day trading on Tuesday, hitting $204.43. 384,958 shares of the stock were exchanged, compared to its average volume of 243,273. SiTime Co. has a 52-week low of $105.40 and a 52-week high of $268.18. The company has a market cap of $4.85 billion, a PE ratio of -50.48 and a beta of 2.24. The firm has a fifty day moving average of $154.82 and a 200 day moving average of $189.78.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $54.01 million. During the same period last year, the firm posted ($0.08) earnings per share. The company's revenue was up 82.7% compared to the same quarter last year. Equities analysts predict that SiTime Co. will post -2.44 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Raymond James reissued an "outperform" rating and set a $250.00 target price (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Needham & Company LLC increased their price target on SiTime from $225.00 to $250.00 and gave the stock 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 company an "underweight" rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus upped their target price on SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $215.00.

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.