SiTime Co. (NASDAQ:SITM) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its position in SiTime Co. (NASDAQ:SITM) by 13.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,417 shares of the company’s stock after selling 709 shares during the quarter. Stifel Financial Corp’s holdings in SiTime were worth $948,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in SiTime by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company’s stock valued at $529,535,000 after buying an additional 52,310 shares in the last quarter. Invesco Ltd. increased its holdings in shares of SiTime by 11.0% during the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock valued at $210,921,000 after acquiring an additional 97,062 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of SiTime by 15.4% during the third 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 in the last quarter. Geode Capital Management LLC raised its position in shares of SiTime by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 442,897 shares of the company’s stock valued at $95,037,000 after purchasing an additional 1,975 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in SiTime by 36.4% in the 4th quarter. Wellington Management Group LLP now owns 195,573 shares of the company’s stock worth $41,956,000 after purchasing an additional 52,221 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Price Performance

NASDAQ SITM opened at $190.01 on Friday. The company has a fifty day moving average of $154.37 and a 200 day moving average of $189.48. The company has a market capitalization of $4.51 billion, a PE ratio of -46.92 and a beta of 2.24. SiTime Co. has a 1 year low of $105.40 and a 1 year high of $268.18.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.11 by $0.15. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The firm had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. During the same period last year, the company earned ($0.08) earnings per share. SiTime’s revenue for the quarter was up 82.7% compared to the same quarter last year. Research analysts expect that SiTime Co. will post -2.44 earnings per share for the current year.

Insider Activity

In related news, insider Fariborz Assaderaghi sold 1,268 shares of the firm’s stock in a transaction 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 owns 112,316 shares in the company, valued at approximately $20,769,474.72. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction on Monday, March 3rd. The shares were 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 of the company’s stock, valued at $14,636,401.08. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,074 shares of company stock valued at $1,195,421 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Needham & Company LLC raised their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Stifel Nicolaus lifted their price target on SiTime from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays increased their price objective on SiTime from $110.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday. Finally, Raymond James restated an “outperform” rating and issued a $250.00 price objective (up 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 issued a buy rating to the company. According to data from MarketBeat.com, SiTime currently has an average rating of “Moderate Buy” and a consensus target price of $215.00.

SiTime Company 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.