nVerses Capital LLC Decreases Stock Holdings in SiTime Co. (NASDAQ:SITM)

nVerses Capital LLC reduced its position in shares of SiTime Co. (NASDAQ:SITM) by 70.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 300 shares of the company’s stock after selling 700 shares during the period. nVerses Capital LLC’s holdings in SiTime were worth $51,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SITM. Nisa Investment Advisors LLC raised its position in SiTime by 59.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares during the last quarter. GAMMA Investing LLC boosted its holdings in SiTime by 281.0% in the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after acquiring an additional 281 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in SiTime during the 2nd quarter valued at $49,000. PNC Financial Services Group Inc. raised its holdings in SiTime by 35.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock worth $84,000 after purchasing an additional 180 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of SiTime by 70.1% in the 1st quarter. Bessemer Group Inc. now owns 1,213 shares of the company’s stock worth $113,000 after purchasing an additional 500 shares during the period. 84.31% of the stock is owned by institutional investors.

SiTime Stock Performance

Shares of NASDAQ SITM opened at $184.15 on Tuesday. The company has a 50 day simple moving average of $156.28 and a two-hundred day simple moving average of $131.72. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $188.98. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of -44.59 and a beta of 1.82.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The business had revenue of $43.90 million during the quarter, compared to analysts’ expectations of $41.01 million. During the same quarter in the previous year, the business earned ($1.17) earnings per share. The firm’s quarterly revenue was up 58.5% compared to the same quarter last year. On average, analysts forecast that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SiTime news, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $143.31, for a total value of $155,204.73. Following the completion of the transaction, the insider now directly owns 103,103 shares of the company’s stock, valued at approximately $14,775,690.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Piyush B. Sevalia sold 1,338 shares of SiTime stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $180.00, for a total value of $240,840.00. Following the completion of the sale, the insider now directly owns 86,196 shares in the company, valued at approximately $15,515,280. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 1,083 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $143.31, for a total transaction of $155,204.73. Following the transaction, the insider now owns 103,103 shares in the company, valued at $14,775,690.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,547 shares of company stock worth $5,361,178 in the last quarter. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SITM. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of SiTime in a research report on Tuesday, June 25th. Barclays lowered SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price for the company. in a research report on Tuesday, August 27th. Finally, Stifel Nicolaus upped their price target on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th.

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.