SiTime Co. (NASDAQ:SITM) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of SiTime Co. (NASDAQ:SITM) by 20.7% in the third quarter, Holdings Channel reports. The institutional investor owned 36,914 shares of the company’s stock after selling 9,660 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SiTime were worth $6,331,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SITM. Signaturefd LLC grew its position in shares of SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Nisa Investment Advisors LLC grew 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 worth $29,000 after buying an additional 88 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in SiTime during the second quarter worth $49,000. Van ECK Associates Corp bought a new position in SiTime during the third quarter worth $123,000. Finally, nVerses Capital LLC bought a new position in SiTime during the second quarter worth $124,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SITM. Roth Mkm raised their price objective on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus raised their price objective on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Needham & Company LLC raised their price objective on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Barclays raised their price objective on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 363 shares of SiTime stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $216.25, for a total transaction of $78,498.75. Following the sale, the insider now directly owns 104,322 shares in the company, valued at $22,559,632.50. The trade was a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $170.07, for a total value of $3,401,400.00. Following the transaction, the chief executive officer now directly owns 424,417 shares in the company, valued at approximately $72,180,599.19. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,513 shares of company stock worth $6,459,008 over the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

SiTime Stock Performance

SITM stock opened at $243.88 on Wednesday. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of -58.91 and a beta of 1.86. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $253.51. The stock’s fifty day moving average is $194.88 and its two-hundred day moving average is $157.55.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The company had revenue of $57.70 million for the quarter, compared to analysts’ expectations of $55.10 million. During the same period last year, the business posted ($0.81) earnings per share. The firm’s quarterly revenue was up 62.4% compared to the same quarter last year. As a group, analysts predict that SiTime Co. will post -2.98 EPS 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.