PFG Advisors trimmed its stake in shares of SiTime Co. (NASDAQ:SITM) by 34.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,655 shares of the company’s stock after selling 1,890 shares during the period. PFG Advisors’ holdings in SiTime were worth $360,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of SiTime by 21.8% during the fourth quarter. BlackRock Inc. now owns 755,029 shares of the company’s stock valued at $84,512,000 after purchasing an additional 135,011 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in shares of SiTime by 56.1% during the fourth quarter. Hood River Capital Management LLC now owns 380,133 shares of the company’s stock valued at $42,548,000 after purchasing an additional 136,673 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in SiTime by 61.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 368,621 shares of the company’s stock worth $41,260,000 after acquiring an additional 140,336 shares in the last quarter. Trigran Investments Inc. lifted its stake in SiTime by 9.4% in the 4th quarter. Trigran Investments Inc. now owns 276,821 shares of the company’s stock worth $30,984,000 after acquiring an additional 23,696 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in SiTime by 2.5% in the 4th quarter. Northern Trust Corp now owns 108,142 shares of the company’s stock worth $12,105,000 after acquiring an additional 2,670 shares in the last quarter. 56.10% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the company. Zacks Investment Research downgraded SiTime from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 21st. Needham & Company LLC increased their price objective on SiTime from $105.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, February 4th. Barclays increased their price objective on SiTime from $100.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 26th. They noted that the move was a valuation call. Roth Capital increased their price objective on SiTime from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, February 4th. Finally, Raymond James raised their price target on SiTime from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, February 4th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. SiTime has an average rating of “Buy” and an average target price of $124.67.
In other news, insider Fariborz Assaderaghi sold 306 shares of SiTime stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $114.09, for a total transaction of $34,911.54. Following the sale, the insider now owns 123,798 shares of the company’s stock, valued at approximately $14,124,113.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Piyush B. Sevalia sold 1,942 shares of the firm’s stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $113.66, for a total value of $220,727.72. Following the transaction, the executive vice president now owns 119,127 shares of the company’s stock, valued at approximately $13,539,974.82. The disclosure for this sale can be found here. Insiders have sold a total of 14,988 shares of company stock worth $1,647,683 in the last three months. 0.80% of the stock is owned by insiders.
Shares of NASDAQ SITM opened at $90.52 on Tuesday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -131.19 and a beta of 0.75. The business’s 50-day simple moving average is $100.43 and its 200-day simple moving average is $106.67. SiTime Co. has a 52 week low of $20.19 and a 52 week high of $151.78.
SiTime (NASDAQ:SITM) last released its earnings results on Tuesday, February 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.06. The business had revenue of $40.30 million during the quarter, compared to analyst estimates of $39.22 million. The firm’s quarterly revenue was up 43.4% on a year-over-year basis. As a group, analysts predict that SiTime Co. will post -0.49 earnings per share for the current year.
SiTime Corporation provides silicon timing systems in Taiwan, Hong Kong, the United States, and internationally. It provides resonators and clock integrated circuits, and various types of oscillators. The company's solutions are used in various markets, including enterprise and telecommunications infrastructure, automotive, industrial, Internet of Things, mobile, and aerospace and defense.
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