Royce & Associates LP Trims Position in SiTime Co. (NASDAQ:SITM)

Royce & Associates LP lowered its stake in shares of SiTime Co. (NASDAQ:SITM) by 87.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,672 shares of the company’s stock after selling 60,414 shares during the quarter. Royce & Associates LP’s holdings in SiTime were worth $1,487,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings 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 purchasing an additional 85,800 shares during the period. Principal Financial Group Inc. increased its stake in SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after buying an additional 59,931 shares during the period. William Blair Investment Management LLC raised its position in SiTime by 62.0% during the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after buying an additional 79,648 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of SiTime in the 2nd quarter worth $16,831,000. Finally, Grandeur Peak Global Advisors LLC boosted its holdings in shares of SiTime by 34.7% in the first quarter. Grandeur Peak Global Advisors LLC now owns 95,281 shares of the company’s stock valued at $8,883,000 after acquiring an additional 24,542 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Price Performance

Shares of NASDAQ:SITM opened at $208.49 on Wednesday. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $228.12. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of -48.29 and a beta of 1.83. The business’s 50 day simple moving average is $177.33 and its 200-day simple moving average is $147.11.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The company had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. SiTime’s quarterly revenue was up 62.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.81) earnings per share. On average, equities analysts anticipate that SiTime Co. will post -2.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SITM shares. Roth Mkm raised their price objective on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays increased their target price on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Stifel Nicolaus lifted their price target on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Needham & Company LLC increased their price objective on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Insider Buying and Selling at SiTime

In other SiTime news, Director Torsten Kreindl sold 6,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the completion of the transaction, the director now owns 13,511 shares of the company’s stock, valued at approximately $2,984,039.46. This trade represents a 30.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Rajesh Vashist sold 20,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $170.07, for a total value of $3,401,400.00. Following the sale, the chief executive officer now directly owns 424,417 shares in the company, valued at approximately $72,180,599.19. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,464 shares of company stock worth $6,698,053. 2.30% of the stock is owned by corporate insiders.

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.