SiTime Co. (NASDAQ:SITM) Position Trimmed by Montanaro Asset Management Ltd

Montanaro Asset Management Ltd trimmed its stake in SiTime Co. (NASDAQ:SITM) by 0.8% in the third quarter, Holdings Channel.com reports. The firm owned 46,025 shares of the company’s stock after selling 375 shares during the quarter. SiTime comprises 1.4% of Montanaro Asset Management Ltd’s portfolio, making the stock its 29th largest holding. Montanaro Asset Management Ltd’s holdings in SiTime were worth $7,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Texas Permanent School Fund Corp lifted its position in SiTime by 2.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 15,292 shares of the company’s stock worth $1,426,000 after buying an additional 357 shares in the last quarter. Quantbot Technologies LP acquired a new stake in SiTime during the first quarter valued at $925,000. Oppenheimer Asset Management Inc. grew its stake in SiTime by 17.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,829 shares of the company’s stock valued at $450,000 after purchasing an additional 733 shares in the last quarter. Swiss National Bank grew its stake in SiTime by 1.2% in the first quarter. Swiss National Bank now owns 33,200 shares of the company’s stock valued at $3,095,000 after purchasing an additional 400 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of SiTime during the 1st quarter worth about $136,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SiTime news, insider Fariborz Assaderaghi sold 1,083 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the sale, the insider now owns 112,584 shares of the company’s stock, valued at $15,654,805.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other SiTime news, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total value of $150,591.15. Following the completion of the sale, the insider now directly owns 112,584 shares of the company’s stock, valued at $15,654,805.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Piyush B. Sevalia sold 807 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total transaction of $129,120.00. Following the transaction, the insider now owns 87,534 shares in the company, valued at approximately $14,005,440. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,464 shares of company stock valued at $5,372,893. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

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

SiTime Trading Down 0.0 %

Shares of SITM stock opened at $225.45 on Friday. The business’s 50 day moving average is $169.16 and its two-hundred day moving average is $141.31. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $228.12.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The firm 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 firm posted ($0.81) EPS. The business’s quarterly revenue was up 62.4% on a year-over-year basis. As a group, research analysts forecast that SiTime Co. will post -3.03 EPS for the current 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.