S Squared Technology LLC Trims Holdings in SiTime Corporation $SITM

S Squared Technology LLC lowered its position in shares of SiTime Corporation (NASDAQ:SITM) by 32.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,289 shares of the company’s stock after selling 7,000 shares during the quarter. SiTime makes up approximately 1.3% of S Squared Technology LLC’s holdings, making the stock its 26th biggest holding. S Squared Technology LLC owned approximately 0.06% of SiTime worth $3,045,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC acquired a new stake in shares of SiTime during the 2nd quarter worth $25,000. Advisors Asset Management Inc. raised its holdings in shares of SiTime by 33.6% during the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after buying an additional 88 shares during the period. CWM LLC lifted its position in shares of SiTime by 69.0% during the first quarter. CWM LLC now owns 453 shares of the company’s stock worth $69,000 after purchasing an additional 185 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in SiTime by 183.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 600 shares of the company’s stock worth $128,000 after buying an additional 388 shares in the last quarter. Finally, Praxis Investment Management Inc. purchased a new position in SiTime in the second quarter valued at about $202,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SITM. Roth Capital reissued a “buy” rating and set a $350.00 price target on shares of SiTime in a research report on Thursday. UBS Group raised their price objective on shares of SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday. Raymond James Financial restated an “outperform” rating and issued a $270.00 target price (up previously from $250.00) on shares of SiTime in a research note on Friday, August 29th. Barclays increased their price target on shares of SiTime from $220.00 to $260.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Needham & Company LLC boosted their price objective on SiTime from $250.00 to $360.00 and gave the company a “buy” rating in a report on Thursday. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, SiTime presently has an average rating of “Hold” and an average price target of $329.17.

SiTime Stock Performance

NASDAQ SITM opened at $326.94 on Monday. The firm has a market capitalization of $8.53 billion, a PE ratio of -110.45 and a beta of 2.36. SiTime Corporation has a one year low of $105.40 and a one year high of $386.00. The company has a 50-day simple moving average of $282.61 and a 200-day simple moving average of $231.90.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The firm had revenue of $83.57 million for the quarter, compared to analysts’ expectations of $78.08 million. SiTime had a negative net margin of 25.18% and a negative return on equity of 5.69%. SiTime’s revenue was up 44.8% on a year-over-year basis. During the same quarter last year, the company posted $0.40 earnings per share. Equities analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current year.

Insider Buying and Selling at SiTime

In related news, CEO Rajesh Vashist sold 2,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $294.00, for a total transaction of $588,000.00. Following the completion of the transaction, the chief executive officer directly owned 451,208 shares in the company, valued at $132,655,152. This represents a 0.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Samsheer Ahamad sold 6,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $250.00, for a total value of $1,500,000.00. Following the completion of the sale, the insider owned 61,888 shares in the company, valued at $15,472,000. The trade was a 8.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 34,867 shares of company stock worth $9,168,213. 2.30% of the stock is owned by company insiders.

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.