Everence Capital Management Inc. Decreases Stock Holdings in SiTime Co. (NASDAQ:SITM)

Everence Capital Management Inc. lowered its stake in SiTime Co. (NASDAQ:SITM) by 58.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 950 shares of the company’s stock after selling 1,340 shares during the period. Everence Capital Management Inc.’s holdings in SiTime were worth $204,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after buying an additional 60 shares during the period. Van ECK Associates Corp bought a new stake in shares of SiTime in the 3rd quarter worth about $123,000. GAMMA Investing LLC boosted its stake in shares of SiTime by 95.0% during the 3rd quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock worth $127,000 after purchasing an additional 362 shares during the period. Sanctuary Advisors LLC bought a new position in SiTime during the 3rd quarter valued at about $166,000. Finally, Virtu Financial LLC purchased a new stake in SiTime in the 3rd quarter worth about $204,000. 84.31% of the stock is owned by institutional investors.

SiTime Price Performance

Shares of SiTime stock opened at $233.20 on Thursday. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $268.18. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of -56.33 and a beta of 1.82. The firm’s 50-day moving average is $217.87 and its two-hundred day moving average is $173.99.

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 analysts’ consensus estimates of $0.26 by $0.14. The firm had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The company’s quarterly revenue was up 62.4% on a year-over-year basis. During the same period last year, the firm earned ($0.81) earnings per share. On average, equities analysts expect that SiTime Co. will post -2.98 earnings per share for the current year.

Insider Activity

In related news, insider Samsheer Ahamad sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $172.73, for a total transaction of $690,920.00. Following the completion of the transaction, the insider now owns 78,979 shares in the company, valued at $13,642,042.67. The trade was a 4.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Vincent P. Pangrazio sold 3,064 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $255.00, for a total transaction of $781,320.00. Following the completion of the sale, the insider now owns 65,978 shares of the company’s stock, valued at approximately $16,824,390. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,931 shares of company stock worth $7,017,644. 2.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SITM has been the subject of a number of research analyst reports. Needham & Company LLC raised their price target on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Roth Mkm upped their price target on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their price objective on shares of SiTime from $230.00 to $250.00 and gave the company a “buy” rating in a report on Monday. Finally, Barclays upped their target price on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th.

About SiTime

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.