Assetmark Inc. Trims Stake in SiTime Co. (NASDAQ:SITM)

Assetmark Inc. trimmed its holdings in shares of SiTime Co. (NASDAQ:SITM) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 728 shares of the company’s stock after selling 72 shares during the quarter. Assetmark Inc.’s holdings in SiTime were worth $125,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank boosted its holdings in shares of SiTime by 1.2% in the 1st quarter. Swiss National Bank now owns 33,200 shares of the company’s stock worth $3,095,000 after purchasing an additional 400 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of SiTime by 47.0% in the 1st quarter. Russell Investments Group Ltd. now owns 7,754 shares of the company’s stock worth $723,000 after purchasing an additional 2,480 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of SiTime by 9.5% in the 1st quarter. ProShare Advisors LLC now owns 3,574 shares of the company’s stock worth $333,000 after purchasing an additional 311 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of SiTime by 73.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $2,750,000 after purchasing an additional 12,500 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after purchasing an additional 85,800 shares in the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

SiTime Trading Down 4.9 %

NASDAQ SITM opened at $193.58 on Monday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $228.12. The stock has a 50-day moving average of $176.00 and a 200-day moving average of $145.93. The firm has a market cap of $4.52 billion, a PE ratio of -46.76 and a beta of 1.83.

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

Insider Buying and Selling at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 1,338 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $180.00, for a total transaction of $240,840.00. Following the completion of the transaction, the insider now owns 86,196 shares of the company’s stock, valued at $15,515,280. This represents a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Torsten Kreindl sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $220.86, for a total value of $1,325,160.00. Following the transaction, the director now directly owns 13,511 shares of the company’s stock, valued at $2,984,039.46. The trade was a 30.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,464 shares of company stock valued at $6,698,053 in the last 90 days. Insiders own 2.30% of the company’s stock.

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.