Mutual of America Capital Management LLC Sells 77 Shares of SiTime Co. (NASDAQ:SITM)

Mutual of America Capital Management LLC trimmed its stake in shares of SiTime Co. (NASDAQ:SITM) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,818 shares of the company’s stock after selling 77 shares during the quarter. Mutual of America Capital Management LLC’s holdings in SiTime were worth $483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Signaturefd LLC increased its stake in shares of SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after purchasing an additional 60 shares during the period. Nisa Investment Advisors LLC increased its position in SiTime by 59.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after buying an additional 88 shares during the period. American International Group Inc. lifted its holdings in shares of SiTime by 1.2% during the first quarter. American International Group Inc. now owns 9,566 shares of the company’s stock worth $892,000 after buying an additional 110 shares in the last quarter. Amalgamated Bank boosted its position in shares of SiTime by 2.3% in the third quarter. Amalgamated Bank now owns 5,509 shares of the company’s stock valued at $945,000 after acquiring an additional 122 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in shares of SiTime by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the company’s stock valued at $1,107,000 after buying an additional 200 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other SiTime news, insider Fariborz Assaderaghi sold 363 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $216.25, for a total transaction of $78,498.75. Following the completion of the sale, the insider now owns 104,322 shares of the company’s stock, valued at approximately $22,559,632.50. This represents a 0.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Piyush B. Sevalia sold 807 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.00, for a total transaction of $129,120.00. Following the completion of the sale, the insider now directly owns 87,534 shares in the company, valued at approximately $14,005,440. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,514 shares of company stock valued at $6,382,144. Insiders own 2.30% of the company’s stock.

SiTime Stock Down 2.3 %

NASDAQ SITM opened at $204.85 on Thursday. The company has a market cap of $4.79 billion, a price-to-earnings ratio of -49.48 and a beta of 1.83. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $228.12. The business’s fifty day moving average is $186.27 and its 200 day moving average is $151.95.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The company had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. During the same quarter in the prior year, the firm posted ($0.81) earnings per share. The firm’s revenue was up 62.4% compared to the same quarter last year. On average, research analysts anticipate that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SITM. Stifel Nicolaus upped their target price on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Needham & Company LLC boosted their target price on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Roth Mkm boosted their price target on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Barclays boosted their target price on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th.

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.