Stifel Financial Corp Lowers Position in SiTime Co. (NASDAQ:SITM)

Stifel Financial Corp trimmed its position in shares of SiTime Co. (NASDAQ:SITM) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,126 shares of the company’s stock after selling 90 shares during the quarter. Stifel Financial Corp’s holdings in SiTime were worth $879,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in SiTime by 1.1% during the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after acquiring an additional 39,119 shares during the period. Principal Financial Group Inc. boosted its position 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 in the last quarter. 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. increased its holdings in shares of SiTime by 7.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock valued at $28,440,000 after purchasing an additional 11,955 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in shares of SiTime in the second quarter valued at about $16,831,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Stock Up 3.5 %

NASDAQ:SITM opened at $227.17 on Wednesday. The company has a market cap of $5.31 billion, a P/E ratio of -54.87 and a beta of 1.86. The firm’s 50 day moving average is $206.91 and its two-hundred day moving average is $165.66. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. During the same quarter in the previous year, the business earned ($0.81) EPS. The company’s revenue for the quarter was up 62.4% on a year-over-year basis. Research analysts forecast that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Raman Chitkara sold 500 shares of SiTime stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $265.00, for a total transaction of $132,500.00. Following the sale, the director now owns 20,719 shares of the company’s stock, valued at $5,490,535. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.13, for a total value of $165,625.39. Following the transaction, the insider now owns 110,578 shares of the company’s stock, valued at approximately $18,259,745.14. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,270 shares of company stock valued at $7,202,728. Corporate insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

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