SiTime Co. (NASDAQ:SITM) Shares Sold by KBC Group NV

KBC Group NV reduced its holdings in shares of SiTime Co. (NASDAQ:SITM) by 22.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,218 shares of the company’s stock after selling 1,770 shares during the period. KBC Group NV’s holdings in SiTime were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of SiTime by 4.1% in the 1st 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 last quarter. Principal Financial Group Inc. raised its holdings in shares of SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after buying an additional 59,931 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of SiTime by 62.0% during the second 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 period. Driehaus Capital Management LLC purchased a new stake in shares of SiTime during the second quarter valued at $16,831,000. Finally, Grandeur Peak Global Advisors LLC increased its position in shares of SiTime by 34.7% in the 1st 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 during the period. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

SiTime Stock Up 3.3 %

Shares of SITM opened at $199.93 on Tuesday. The stock’s 50-day moving average price is $176.00 and its 200-day moving average price is $146.34. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of -48.29 and a beta of 1.83. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $228.12.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $57.70 million for the quarter, compared to analysts’ expectations of $55.10 million. During the same quarter last year, the company earned ($0.81) EPS. The business’s revenue was up 62.4% on a year-over-year basis. As a group, equities analysts anticipate that SiTime Co. will post -2.98 EPS for the current fiscal year.

Insider Buying and Selling at SiTime

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 directly owns 112,584 shares of the company’s stock, valued at approximately $15,654,805.20. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lionel Bonnot sold 3,230 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $140.55, for a total value of $453,976.50. Following the transaction, the insider now directly owns 87,525 shares of the company’s stock, valued at approximately $12,301,638.75. The trade was a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,464 shares of company stock valued at $6,698,053. Corporate insiders own 2.30% of the company’s stock.

SiTime 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.