SiTime Co. (NASDAQ:SITM) Position Reduced by Pathstone Holdings LLC

Pathstone Holdings LLC lowered its stake in SiTime Co. (NASDAQ:SITM) by 13.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 12,375 shares of the company’s stock after selling 1,980 shares during the period. Pathstone Holdings LLC owned 0.05% of SiTime worth $2,122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SITM. Signaturefd LLC grew its stake in SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of SiTime by 0.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock valued at $2,524,000 after acquiring an additional 94 shares in the last quarter. American International Group Inc. lifted its stake in SiTime by 1.2% during the first quarter. American International Group Inc. now owns 9,566 shares of the company’s stock worth $892,000 after purchasing an additional 110 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in SiTime by 2.3% in the third quarter. Amalgamated Bank now owns 5,509 shares of the company’s stock worth $945,000 after purchasing an additional 122 shares during the period. Institutional investors own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SITM shares. Needham & Company LLC increased their target price on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays increased 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. Roth Mkm lifted their target price on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus increased their price target on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th.

Insider Transactions at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 807 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total value of $129,120.00. Following the completion of the sale, the insider now directly owns 87,534 shares in the company, valued at $14,005,440. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 1,000 shares of SiTime 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 transaction, the insider now owns 108,574 shares in the company, valued at approximately $22,817,911.84. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,151 shares of company stock valued at $6,303,645. 2.30% of the stock is currently owned by corporate insiders.

SiTime Stock Down 2.6 %

SiTime stock opened at $209.76 on Wednesday. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $228.12. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of -50.67 and a beta of 1.83. The firm has a 50-day moving average price of $185.31 and a two-hundred day moving average price of $151.58.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. During the same period in the previous year, the firm posted ($0.81) earnings per share. The business’s revenue was up 62.4% on a year-over-year basis. Research analysts expect that SiTime Co. will post -2.98 earnings per share for the current 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.