Bamco Inc. NY Sells 126,000 Shares of SiTime Co. (NASDAQ:SITM)

Bamco Inc. NY cut its holdings in SiTime Co. (NASDAQ:SITM) by 48.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 132,516 shares of the company’s stock after selling 126,000 shares during the period. Bamco Inc. NY owned approximately 0.58% of SiTime worth $12,354,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Pineridge Advisors LLC acquired a new position in shares of SiTime during the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC grew its position in SiTime by 78.2% during the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after buying an additional 147 shares in the last quarter. Nemes Rush Group LLC increased its stake in SiTime by 26.9% during the 4th quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after acquiring an additional 115 shares during the period. PNC Financial Services Group Inc. raised its holdings in SiTime by 35.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock valued at $84,000 after acquiring an additional 180 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of SiTime by 24.4% during the 4th quarter. Assetmark Inc. now owns 781 shares of the company’s stock valued at $95,000 after acquiring an additional 153 shares during the period. 84.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SITM has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Needham & Company LLC reissued a “buy” rating and issued a $130.00 target price on shares of SiTime in a report on Tuesday, June 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, SiTime presently has a consensus rating of “Moderate Buy” and an average target price of $141.00.

Insider Buying and Selling

In other SiTime news, insider Lionel Bonnot sold 781 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $117.08, for a total transaction of $91,439.48. Following the sale, the insider now owns 98,299 shares of the company’s stock, valued at $11,508,846.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other SiTime news, insider Lionel Bonnot sold 781 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $117.08, for a total value of $91,439.48. Following the completion of the transaction, the insider now directly owns 98,299 shares in the company, valued at $11,508,846.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vincent P. Pangrazio sold 1,962 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $150.00, for a total value of $294,300.00. Following the sale, the insider now owns 69,175 shares in the company, valued at $10,376,250. The disclosure for this sale can be found here. Insiders sold a total of 52,562 shares of company stock worth $6,817,590 in the last three months. 2.30% of the stock is owned by corporate insiders.

SiTime Stock Performance

Shares of SiTime stock traded up $4.29 during trading on Friday, reaching $148.03. 176,137 shares of the company’s stock were exchanged, compared to its average volume of 244,010. The firm’s 50-day moving average price is $132.13 and its 200 day moving average price is $111.25. The company has a market cap of $3.39 billion, a P/E ratio of -35.84 and a beta of 1.82. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $165.11.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 8th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.17). SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. The business had revenue of $33.02 million for the quarter, compared to analyst estimates of $32.02 million. As a group, equities research analysts predict that SiTime Co. will post -2.66 EPS for the current year.

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.