SiTime Corporation (NASDAQ:SITM) Shares Sold by Premier Fund Managers Ltd

Premier Fund Managers Ltd decreased its stake in SiTime Corporation (NASDAQ:SITM) by 51.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,005 shares of the company’s stock after selling 4,248 shares during the period. Premier Fund Managers Ltd’s holdings in SiTime were worth $610,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Royce & Associates LP lifted its holdings in shares of SiTime by 200.5% in the 1st quarter. Royce & Associates LP now owns 61,922 shares of the company’s stock worth $9,466,000 after purchasing an additional 41,316 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of SiTime in the 1st quarter worth approximately $1,301,000. Peregrine Investment Management Inc. lifted its holdings in shares of SiTime by 45.8% in the 1st quarter. Peregrine Investment Management Inc. now owns 52,870 shares of the company’s stock worth $8,082,000 after purchasing an additional 16,610 shares during the last quarter. CWM LLC lifted its holdings in shares of SiTime by 69.0% in the 1st quarter. CWM LLC now owns 453 shares of the company’s stock worth $69,000 after purchasing an additional 185 shares during the last quarter. Finally, Emerald Advisers LLC lifted its holdings in shares of SiTime by 32.6% in the 1st quarter. Emerald Advisers LLC now owns 115,433 shares of the company’s stock worth $17,646,000 after purchasing an additional 28,393 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Insider Activity at SiTime

In other news, insider Fariborz Assaderaghi sold 1,000 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $201.36, for a total transaction of $201,360.00. Following the sale, the insider directly owned 101,319 shares of the company’s stock, valued at $20,401,593.84. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Samsheer Ahamad sold 4,000 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $200.00, for a total value of $800,000.00. Following the sale, the insider directly owned 72,021 shares in the company, valued at $14,404,200. This trade represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,551 shares of company stock valued at $13,413,996 over the last ninety days. Company insiders own 2.30% of the company’s stock.

SiTime Price Performance

Shares of SiTime stock opened at $193.47 on Wednesday. The business’s fifty day moving average price is $208.12 and its two-hundred day moving average price is $186.61. The company has a market capitalization of $4.59 billion, a P/E ratio of -50.91 and a beta of 2.20. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $268.18.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.15. SiTime had a negative return on equity of 9.43% and a negative net margin of 38.60%. The firm had revenue of $60.31 million for the quarter, compared to the consensus estimate of $54.01 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The firm’s revenue for the quarter was up 82.7% on a year-over-year basis. On average, research analysts expect that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SITM shares. Stifel Nicolaus raised their price target on SiTime from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Barclays lifted their target price on SiTime from $135.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $228.00.

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.