SiTime Co. (NASDAQ:SITM) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. decreased its position in shares of SiTime Co. (NASDAQ:SITM) by 58.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 950 shares of the company’s stock after selling 1,340 shares during the quarter. Everence Capital Management Inc.’s holdings in SiTime were worth $204,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC raised its position in SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of SiTime in the third quarter worth $123,000. GAMMA Investing LLC increased its stake in shares of SiTime by 95.0% in the third quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock worth $127,000 after acquiring an additional 362 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of SiTime during the third quarter worth $166,000. Finally, Virtu Financial LLC acquired a new position in SiTime during the third quarter valued at $204,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Buying and Selling

In other news, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $172.73, for a total value of $690,920.00. Following the sale, the insider now directly owns 78,979 shares of the company’s stock, valued at $13,642,042.67. The trade was a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Fariborz Assaderaghi sold 1,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.16, for a total value of $210,160.00. Following the completion of the transaction, the insider now directly owns 108,574 shares of the company’s stock, valued at approximately $22,817,911.84. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,931 shares of company stock valued at $7,017,644. 2.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SITM has been the topic of several analyst reports. Needham & Company LLC increased their price target on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Roth Mkm raised their target price 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 target on SiTime from $230.00 to $250.00 and gave the company a “buy” rating in a report on Monday. Finally, Barclays raised their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th.

SiTime Stock Up 1.0 %

NASDAQ:SITM opened at $233.20 on Thursday. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18. The stock’s 50-day moving average price is $217.87 and its 200-day moving average price is $173.99. The stock has a market capitalization of $5.45 billion, a PE ratio of -56.33 and a beta of 1.82.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.26 by $0.14. The company had revenue of $57.70 million for the quarter, compared to analyst estimates 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 last year, the company earned ($0.81) earnings per share. Sell-side analysts expect that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

About SiTime

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.