SiTime Co. (NASDAQ:SITM) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lessened its holdings in shares of SiTime Co. (NASDAQ:SITM) by 0.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 891,678 shares of the company’s stock after selling 424 shares during the period. Wasatch Advisors LP’s holdings in SiTime were worth $83,131,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. NBC Securities Inc. grew its holdings in SiTime by 38.5% during the first quarter. NBC Securities Inc. now owns 4,915 shares of the company’s stock worth $458,000 after acquiring an additional 1,367 shares during the period. PNC Financial Services Group Inc. grew its holdings in SiTime by 35.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock worth $84,000 after acquiring an additional 180 shares during the period. Vanguard Group Inc. grew its holdings in SiTime by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 2,117,486 shares of the company’s stock worth $258,503,000 after acquiring an additional 50,876 shares during the period. Pineridge Advisors LLC acquired a new position in SiTime during the fourth quarter worth $25,000. Finally, Comerica Bank grew its holdings in SiTime by 5.2% in the fourth quarter. Comerica Bank now owns 8,537 shares of the company’s stock valued at $1,042,000 after purchasing an additional 419 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a “buy” rating and issued a $130.00 target price on shares of SiTime in a report on Tuesday, June 25th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, SiTime currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

SiTime Price Performance

SiTime stock traded up $5.71 during trading hours on Tuesday, hitting $128.24. The stock had a trading volume of 118,227 shares, compared to its average volume of 204,981. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -31.05 and a beta of 1.82. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $141.99. The stock’s fifty day moving average is $116.31 and its two-hundred day moving average is $107.90.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.17). The company had revenue of $33.02 million for the quarter, compared to analyst estimates of $32.02 million. SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. As a group, sell-side analysts anticipate that SiTime Co. will post -2.66 EPS for the current year.

Insider Activity at SiTime

In related news, CEO Rajesh Vashist sold 20,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $125.44, for a total transaction of $2,508,800.00. Following the sale, the chief executive officer now owns 455,367 shares of the company’s stock, valued at $57,121,236.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Rajesh Vashist sold 20,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $125.44, for a total transaction of $2,508,800.00. Following the transaction, the chief executive officer now directly owns 455,367 shares in the company, valued at $57,121,236.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total value of $131,703.63. Following the transaction, the insider now owns 104,186 shares in the company, valued at $12,670,059.46. The disclosure for this sale can be found here. Insiders have sold a total of 39,151 shares of company stock valued at $4,845,692 over the last quarter. Insiders own 2.30% of the company’s stock.

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.