Goldman Sachs Group Inc. Sells 30,666 Shares of SiTime Co. (NASDAQ:SITM)

Goldman Sachs Group Inc. trimmed its stake in shares of SiTime Co. (NASDAQ:SITM) by 17.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 143,925 shares of the company’s stock after selling 30,666 shares during the quarter. Goldman Sachs Group Inc. owned 0.63% of SiTime worth $17,570,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SITM. Jennison Associates LLC grew its holdings in shares of SiTime by 19.8% during the fourth quarter. Jennison Associates LLC now owns 173,770 shares of the company’s stock worth $21,214,000 after purchasing an additional 28,739 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in SiTime by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock valued at $30,112,000 after acquiring an additional 35,491 shares during the last quarter. Norges Bank purchased a new stake in SiTime during the fourth quarter valued at about $12,662,000. Vanguard Group Inc. lifted its stake in SiTime by 2.9% during the third quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock worth $236,110,000 after purchasing an additional 58,629 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of SiTime by 12,108.0% in the 4th quarter. International Assets Investment Management LLC now owns 12,208 shares of the company’s stock worth $1,490,000 after purchasing an additional 12,108 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “buy” rating and issued a $130.00 price objective on shares of SiTime in a report on Tuesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $140.00.

SiTime Stock Up 1.3 %

Shares of SiTime stock opened at $123.25 on Friday. The company has a market cap of $2.82 billion, a PE ratio of -29.84 and a beta of 1.83. The business has a 50 day moving average of $113.24 and a 200 day moving average of $107.95. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $141.99.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.17). The firm had revenue of $33.02 million for the quarter, compared to analysts’ expectations of $32.02 million. SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. On average, research analysts anticipate that SiTime Co. will post -2.66 earnings per share for the current year.

Insider Activity

In related news, insider Fariborz Assaderaghi sold 1,288 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $84.25, for a total value of $108,514.00. Following the transaction, the insider now owns 110,203 shares in the company, valued at approximately $9,284,602.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other SiTime news, insider Lionel Bonnot sold 781 shares of SiTime stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $117.08, for a total value of $91,439.48. Following the completion of the sale, the insider now owns 98,299 shares of the company’s stock, valued at approximately $11,508,846.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 1,288 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $84.25, for a total value of $108,514.00. Following the completion of the transaction, the insider now directly owns 110,203 shares in the company, valued at approximately $9,284,602.75. The disclosure for this sale can be found here. Insiders sold 39,151 shares of company stock worth $4,845,692 over the last three months. 2.30% of the stock is currently owned by corporate insiders.

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.