SiTime Co. (NASDAQ:SITM) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in SiTime Co. (NASDAQ:SITM) by 20.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 36,914 shares of the company’s stock after selling 9,660 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of SiTime worth $6,331,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC grew its stake in shares of SiTime by 1.1% during the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after purchasing an additional 39,119 shares during the period. Principal Financial Group Inc. grew its stake in shares of SiTime by 15.4% during the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after purchasing an additional 59,931 shares during the period. William Blair Investment Management LLC grew its stake in shares of SiTime by 62.0% during the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after purchasing an additional 79,648 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of SiTime by 7.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock worth $28,440,000 after purchasing an additional 11,955 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in shares of SiTime during the 2nd quarter worth $16,831,000. 84.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SiTime

In other news, CEO Rajesh Vashist sold 20,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the transaction, the chief executive officer now directly owns 424,417 shares in the company, valued at $72,180,599.19. This represents a 4.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Fariborz Assaderaghi sold 363 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $216.25, for a total transaction of $78,498.75. Following the transaction, the insider now owns 104,322 shares in the company, valued at approximately $22,559,632.50. The trade was a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,513 shares of company stock worth $6,459,008 in the last three months. Company insiders own 2.30% of the company’s stock.

SiTime Trading Down 3.3 %

NASDAQ:SITM opened at $243.88 on Wednesday. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of -58.91 and a beta of 1.86. The company’s 50-day moving average is $194.88 and its two-hundred day moving average is $157.55. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $253.51.

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

Analyst Ratings Changes

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

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.