Jennison Associates LLC Cuts Stock Position in SiTime Co. (NASDAQ:SITM)

Jennison Associates LLC decreased its holdings in shares of SiTime Co. (NASDAQ:SITM) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,230 shares of the company’s stock after selling 6,304 shares during the period. Jennison Associates LLC’s holdings in SiTime were worth $44,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after buying an additional 88 shares during the last quarter. GAMMA Investing LLC boosted its holdings in SiTime by 281.0% in the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after buying an additional 281 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in SiTime during the 2nd quarter worth approximately $49,000. Finally, Bessemer Group Inc. raised its holdings in shares of SiTime by 70.1% during the first quarter. Bessemer Group Inc. now owns 1,213 shares of the company’s stock valued at $113,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Activity at SiTime

In related news, CEO Rajesh Vashist sold 20,000 shares of SiTime 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 owns 424,417 shares in the company, valued at $72,180,599.19. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,000 shares of SiTime stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.16, for a total transaction of $210,160.00. Following the sale, the insider now directly owns 108,574 shares of the company’s stock, 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. In the last quarter, insiders sold 36,234 shares of company stock worth $6,454,237. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

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

SiTime Stock Up 0.9 %

Shares of NASDAQ:SITM opened at $210.50 on Friday. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $228.12. The business has a fifty day moving average of $180.17 and a two-hundred day moving average of $148.36. The stock has a market cap of $4.92 billion, a P/E ratio of -50.85 and a beta of 1.83.

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

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.