US Bancorp DE Decreases Stock Position in SiTime Co. (NASDAQ:SITM)

US Bancorp DE trimmed its position in shares of SiTime Co. (NASDAQ:SITM) by 32.8% in the 3rd quarter, Holdings Channel reports. The firm owned 699 shares of the company’s stock after selling 341 shares during the period. US Bancorp DE’s holdings in SiTime were worth $120,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SITM. Vanguard Group Inc. grew 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. boosted its holdings in SiTime by 15.2% in the 2nd quarter. Principal Financial Group Inc. now owns 388,999 shares of the company’s stock valued at $48,384,000 after purchasing an additional 51,407 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of SiTime by 62.0% in the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after buying an additional 79,648 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of SiTime during the 2nd quarter worth approximately $16,831,000. Finally, Grandeur Peak Global Advisors LLC raised its position in shares of SiTime by 34.7% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 95,281 shares of the company’s stock valued at $8,883,000 after buying an additional 24,542 shares during the period. 84.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SiTime

In related news, insider Lionel Bonnot sold 3,230 shares of SiTime stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $140.55, for a total transaction of $453,976.50. Following the completion of the sale, the insider now owns 87,525 shares in the company, valued at approximately $12,301,638.75. This trade represents a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Torsten Kreindl sold 6,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $220.86, for a total value 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 $2,984,039.46. This trade represents a 30.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,464 shares of company stock worth $6,698,053 over the last 90 days. 2.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

SiTime Stock Down 4.9 %

Shares of SiTime stock opened at $193.58 on Friday. The firm has a market capitalization of $4.52 billion, a P/E ratio of -47.78 and a beta of 1.83. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $228.12. The firm’s 50 day moving average is $174.74 and its two-hundred day moving average is $144.82.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The firm had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business’s revenue was up 62.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.81) EPS. As a group, research analysts expect that SiTime Co. will post -2.96 earnings per share 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.