Premier Fund Managers Ltd Sells 2,085 Shares of SiTime Co. (NASDAQ:SITM)

Premier Fund Managers Ltd reduced its stake in SiTime Co. (NASDAQ:SITM) by 22.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,235 shares of the company’s stock after selling 2,085 shares during the period. Premier Fund Managers Ltd’s holdings in SiTime were worth $1,273,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Driehaus Capital Management LLC purchased a new position in SiTime during the 2nd quarter valued at about $16,831,000. Vanguard Group Inc. boosted its position in shares of SiTime by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after acquiring an additional 85,800 shares during the period. William Blair Investment Management LLC grew its stake in SiTime by 62.0% during the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after acquiring an additional 79,648 shares in the last quarter. F M Investments LLC bought a new stake in SiTime during the 2nd quarter worth approximately $8,909,000. Finally, LMR Partners LLP increased its holdings in SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after acquiring an additional 70,500 shares during the period. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on SITM shares. Roth Mkm raised their price target on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report 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. Stifel Nicolaus raised their price target on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Barclays lifted 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.

Insider Buying and Selling

In other SiTime news, Director Torsten Kreindl sold 6,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the completion of the sale, the director now directly owns 13,511 shares in the company, valued at $2,984,039.46. This represents a 30.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the completion of the transaction, the insider now owns 112,584 shares in the company, valued at approximately $15,654,805.20. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,464 shares of company stock worth $6,698,053 in the last quarter. 2.30% of the stock is owned by insiders.

SiTime Stock Performance

NASDAQ SITM opened at $208.49 on Wednesday. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $228.12. The company has a fifty day moving average of $177.33 and a 200-day moving average of $147.11. The company has a market capitalization of $4.87 billion, a P/E ratio of -50.36 and a beta of 1.83.

SiTime (NASDAQ:SITM) last released its quarterly 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. 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 for the quarter, compared to the consensus estimate of $55.10 million. During the same quarter last year, the business posted ($0.81) earnings per share. The company’s revenue for the quarter was up 62.4% on a year-over-year basis. As a group, analysts forecast that SiTime Co. will post -2.98 EPS for the current fiscal year.

SiTime Company 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.