Sei Investments Co. reduced its stake in shares of SiTime Co. (NASDAQ:SITM – Free Report) by 16.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,261 shares of the company after selling 2,788 shares during the quarter. Sei Investments Co. owned about 0.06% of SiTime worth $1,330,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their holdings in SITM. Pineridge Advisors LLC purchased a new position in SiTime during the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC increased its position in shares of SiTime by 78.2% during the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after acquiring an additional 147 shares during the last quarter. Nemes Rush Group LLC increased its position in shares of 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 last quarter. PNC Financial Services Group Inc. increased its position in shares of SiTime by 35.4% during the 4th quarter. PNC Financial Services Group Inc. Assetmark Inc. now owns 689 shares of the company’s stock worth $84,000 after acquiring an additional 180 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of SiTime by 24.4% in the 4th quarter. Assetmark Inc. now owns 781 shares of the company’s stock worth $95,000 after acquiring an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Price Performance

NASDAQ:SITM opened Friday at $148.03. The company has a 50-day moving average of $132.13 and a 200-day moving average of $111.28. The company has a market cap of $3.39 billion, a price to earnings 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 – Get Free Report) last released its earnings results on Wednesday, May 8. The company reported ($1.04) earnings per share for the quarter, which missed analysts’ consensus estimates of ($0.87) by ($0.17). The company had revenue of $33.02 million during the quarter, compared to the consensus estimate of $32.02 million. SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. As a group, sell-side analysts expect SiTime Co. to post -2.66 EPS for the current year.

Insider Buying and Selling at SiTime

In other SiTime news, insider Lionel Bonnot sold 781 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $117.08, for a total value of $91,439.48. Following the completion of the sale, the insider now owns 98,299 shares of the company’s stock, valued at $11,508,846.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via the SEC’s website. In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $125.44, for a total value of $2,508,800.00. Following the completion of the sale, the CEO now owns 455,367 shares of the company’s stock, valued at $57,121,236.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via the SEC’s website. Also, insider Lionel Bonnot sold 781 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $117.08, for a total value of $91,439.48. Following the completion of the sale, the insider now owns 98,299 shares of the company’s stock, valued at approximately $11,508,846.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,562 shares of the company’s stock for $6,817,590. 2.30% of the company’s stock is currently owned by insiders.

Changes in analyst ratings

SITM has been the subject of a number of reports from research analysts. Stifel Nicolaus increased their price target on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of SiTime in a research report on Tuesday, June 25th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.00.

Read our latest stock analysis on SiTime

About SiTime

(Free Report)

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, data center, enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

read more

Get news and reviews for SiTime Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings on SiTime and related companies with MarketBeat.com’s FREE daily email newsletter.