Allspring Global Investments Holdings LLC Sells 73,905 Shares of SiTime Co. (NASDAQ:SITM)

Allspring Global Investments Holdings LLC reduced its position in SiTime Co. (NASDAQ:SITM) by 41.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 104,261 shares of the company’s stock after selling 73,905 shares during the period. Allspring Global Investments Holdings LLC owned about 0.47% of SiTime worth $12,728,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust boosted its stake in shares of SiTime by 99.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 305 shares of the company’s stock worth $36,000 after acquiring an additional 152 shares during the period. Macquarie Group Ltd. bought a new position in SiTime during the first quarter worth $50,000. Amica Retiree Medical Trust increased its holdings in shares of SiTime by 479.5% in the third quarter. Amica Retiree Medical Trust now owns 649 shares of the company’s stock valued at $74,000 after purchasing an additional 537 shares during the last quarter. Covestor Ltd increased its holdings in shares of SiTime by 14,500.0% in the first quarter. Covestor Ltd now owns 438 shares of the company’s stock valued at $109,000 after purchasing an additional 435 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of SiTime during the 1st quarter worth about $129,000. Institutional investors own 84.31% of the company’s stock.

Insider Activity at SiTime

In other news, insider Fariborz Assaderaghi sold 1,288 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total transaction of $116,654.16. Following the completion of the sale, the insider now owns 111,491 shares of the company’s stock, valued at approximately $10,097,739.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Rajesh Vashist sold 1,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $125.00, for a total value of $125,000.00. Following the completion of the transaction, the chief executive officer now owns 428,655 shares of the company’s stock, valued at $53,581,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,288 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $90.57, for a total transaction of $116,654.16. Following the transaction, the insider now owns 111,491 shares of the company’s stock, valued at $10,097,739.87. The disclosure for this sale can be found here. Insiders sold a total of 4,340 shares of company stock valued at $455,780 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SITM has been the subject of several research reports. Barclays raised their price objective on shares of SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Stifel Nicolaus lifted their price target on SiTime from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.00.

SiTime Trading Down 3.8 %

NASDAQ SITM opened at $78.51 on Tuesday. The company has a 50 day moving average of $95.62 and a 200-day moving average of $107.65. SiTime Co. has a 1-year low of $77.58 and a 1-year high of $141.99.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The company had revenue of $42.40 million during the quarter, compared to analyst estimates of $41.65 million. SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. Sell-side analysts expect that SiTime Co. will post -2.3 earnings per share for the current fiscal 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.