SiTime Co. (NASDAQ:SITM) Shares Sold by Capital World Investors

Capital World Investors trimmed its stake in shares of SiTime Co. (NASDAQ:SITM) by 49.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 204,315 shares of the company’s stock after selling 196,091 shares during the period. Capital World Investors owned about 0.89% of SiTime worth $19,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Yousif Capital Management LLC lifted its stake in SiTime by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 8,554 shares of the company’s stock valued at $1,044,000 after buying an additional 95 shares in the last quarter. American International Group Inc. lifted its position in shares of SiTime by 1.2% in the 1st quarter. American International Group Inc. now owns 9,566 shares of the company’s stock valued at $892,000 after acquiring an additional 110 shares in the last quarter. Nemes Rush Group LLC boosted its stake in SiTime by 26.9% in the 4th quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after purchasing an additional 115 shares during the period. Pursue Wealth Partners LLC grew its position in SiTime by 0.6% during the 4th quarter. Pursue Wealth Partners LLC now owns 22,618 shares of the company’s stock worth $2,761,000 after purchasing an additional 139 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in SiTime by 78.2% during the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock valued at $41,000 after purchasing an additional 147 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Trading Up 3.0 %

Shares of NASDAQ:SITM opened at $148.03 on Friday. The business has a fifty day simple moving average of $132.13 and a 200 day simple moving average of $111.28. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $165.11.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.17). SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. The firm had revenue of $33.02 million for the quarter, compared to analyst estimates of $32.02 million. Analysts expect that SiTime Co. will post -2.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Vincent P. Pangrazio sold 1,962 shares of SiTime stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $150.00, for a total value of $294,300.00. Following the completion of the sale, the insider now owns 69,175 shares of the company’s stock, valued at approximately $10,376,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Vincent P. Pangrazio sold 1,962 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $150.00, for a total value of $294,300.00. Following the transaction, the insider now directly owns 69,175 shares of the company’s stock, valued at approximately $10,376,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Piyush B. Sevalia sold 1,768 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $115.42, for a total value of $204,062.56. Following the sale, the executive vice president now directly owns 97,136 shares of the company’s stock, valued at approximately $11,211,437.12. The disclosure for this sale can be found here. Insiders sold 52,562 shares of company stock valued at $6,817,590 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

SITM has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 target price on shares of SiTime in a research report on Tuesday, June 25th. Stifel Nicolaus lifted their target price on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.00.

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.