Victory Capital Management Inc. cut its stake in SiTime Co. (NASDAQ:SITM – Get Rating) by 32.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 181,279 shares of the company’s stock after selling 85,538 shares during the quarter. Victory Capital Management Inc. owned about 0.86% of SiTime worth $43,803,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new stake in shares of SiTime during the 1st quarter worth approximately $78,000. FourThought Financial LLC increased its position in shares of SiTime by 30.1% during the 1st quarter. FourThought Financial LLC now owns 454 shares of the company’s stock worth $113,000 after purchasing an additional 105 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in SiTime in the 4th quarter valued at about $143,000. CIBC Asset Management Inc acquired a new position in SiTime in the fourth quarter valued at about $230,000. Finally, Pictet Asset Management SA purchased a new position in SiTime during the fourth quarter worth about $234,000. 62.79% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at SiTime
In related news, insider Lionel Bonnot sold 1,158 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $230.00, for a total value of $266,340.00. Following the transaction, the insider now owns 108,365 shares of the company’s stock, valued at $24,923,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other SiTime news, CEO Rajesh Vashist sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $179.15, for a total value of $895,750.00. Following the completion of the transaction, the chief executive officer now owns 540,549 shares in the company, valued at $96,839,353.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lionel Bonnot sold 1,158 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $230.00, for a total transaction of $266,340.00. Following the completion of the transaction, the insider now owns 108,365 shares of the company’s stock, valued at approximately $24,923,950. The disclosure for this sale can be found here. Insiders have sold 20,152 shares of company stock valued at $3,985,418 over the last quarter. 1.16% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
SiTime Trading Up 0.6 %
SiTime stock opened at $187.05 on Tuesday. SiTime Co. has a twelve month low of $129.44 and a twelve month high of $341.77. The stock’s fifty day simple moving average is $178.82 and its 200-day simple moving average is $193.33. The firm has a market capitalization of $3.94 billion, a P/E ratio of 96.92, a P/E/G ratio of 7.45 and a beta of 1.61.
SiTime (NASDAQ:SITM – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). SiTime had a return on equity of 8.76% and a net margin of 16.56%. The company had revenue of $70.25 million for the quarter, compared to analysts’ expectations of $65.00 million. During the same period in the prior year, the company posted ($0.20) EPS. The firm’s revenue was up 97.7% compared to the same quarter last year. Sell-side analysts predict that SiTime Co. will post 1.66 earnings per share for the current year.
SiTime Company Profile
SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.
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