ProShare Advisors LLC Sells 842 Shares of SiTime Co. (NASDAQ:SITM)

ProShare Advisors LLC trimmed its position in shares of SiTime Co. (NASDAQ:SITM) by 23.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,732 shares of the company’s stock after selling 842 shares during the quarter. ProShare Advisors LLC’s holdings in SiTime were worth $340,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SITM. Norges Bank bought a new stake in SiTime during the 4th quarter valued at approximately $12,662,000. S Squared Technology LLC boosted its position in SiTime by 6.7% during the 4th quarter. S Squared Technology LLC now owns 80,046 shares of the company’s stock valued at $9,772,000 after acquiring an additional 5,000 shares in the last quarter. Ghisallo Capital Management LLC bought a new stake in SiTime during the 4th quarter valued at approximately $2,495,000. Wasatch Advisors LP boosted its position in SiTime by 2.9% during the 4th quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock valued at $108,908,000 after acquiring an additional 25,324 shares in the last quarter. Finally, Pineridge Advisors LLC bought a new stake in SiTime during the 4th quarter valued at approximately $25,000. 84.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price for the company. in a report on Tuesday, August 27th. Stifel Nicolaus lifted their target price on shares of SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $130.00 target price on shares of SiTime in a report on Tuesday, June 25th.

SiTime Stock Performance

SITM stock opened at $169.62 on Thursday. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $181.00. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -41.07 and a beta of 1.82. The firm has a 50 day moving average price of $143.05 and a 200-day moving average price of $123.39.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The company had revenue of $43.90 million during the quarter, compared to analyst estimates of $41.01 million. During the same period in the previous year, the business earned ($1.17) EPS. The firm’s revenue for the quarter was up 58.5% on a year-over-year basis. As a group, sell-side analysts forecast that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Rajesh Vashist sold 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 424,417 shares in the company, valued at approximately $72,180,599.19. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the completion of the sale, the chief executive officer now directly owns 424,417 shares in the company, valued at approximately $72,180,599.19. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Lionel Bonnot sold 3,203 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $140.26, for a total transaction of $449,252.78. Following the sale, the insider now owns 86,838 shares of the company’s stock, valued at $12,179,897.88. The disclosure for this sale can be found here. Insiders sold a total of 48,246 shares of company stock worth $7,441,590 in the last three months. Insiders own 2.30% of the company’s stock.

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.