Truist Financial Corp Sells 191 Shares of SiTime Co. (NASDAQ:SITM)

Truist Financial Corp lessened its holdings in shares of SiTime Co. (NASDAQ:SITM) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,254 shares of the company’s stock after selling 191 shares during the period. Truist Financial Corp’s holdings in SiTime were worth $529,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in shares of SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after buying an additional 88 shares during the period. GAMMA Investing LLC boosted its position in shares of SiTime by 281.0% during the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after buying an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of SiTime in the second quarter valued at approximately $49,000. PNC Financial Services Group Inc. grew its stake in SiTime by 35.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock worth $84,000 after purchasing an additional 180 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in SiTime by 70.1% in the first quarter. Bessemer Group Inc. now owns 1,213 shares of the company’s stock worth $113,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SITM. Needham & Company LLC reissued a “buy” rating and issued a $130.00 price objective on shares of SiTime in a research note on Tuesday, June 25th. Stifel Nicolaus increased their price objective on SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Barclays cut SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective on the stock. in a research note on Tuesday, August 27th.

SiTime Trading Down 1.6 %

Shares of NASDAQ SITM opened at $172.34 on Thursday. The stock has a market capitalization of $3.94 billion, a PE ratio of -41.73 and a beta of 1.82. The stock’s fifty day simple moving average is $153.23 and its two-hundred day simple moving average is $129.61. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $188.98.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.08. The business had revenue of $43.90 million for the quarter, compared to analysts’ expectations of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The business’s revenue for the quarter was up 58.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.17) EPS. On average, equities analysts predict that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at SiTime

In other news, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $143.31, for a total transaction of $155,204.73. Following the completion of the sale, the insider now owns 103,103 shares in the company, valued at approximately $14,775,690.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $143.31, for a total transaction of $155,204.73. Following the completion of the sale, the insider now owns 103,103 shares in the company, valued at approximately $14,775,690.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $131.00, for a total value of $524,000.00. Following the sale, the insider now owns 78,856 shares of the company’s stock, valued at approximately $10,330,136. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,547 shares of company stock valued at $5,361,178. 2.30% of the stock is currently owned by corporate insiders.

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.