Segall Bryant & Hamill LLC Cuts Position in SiTime Co. (NASDAQ:SITM)

Segall Bryant & Hamill LLC trimmed its holdings in shares of SiTime Co. (NASDAQ:SITM) by 42.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 44,734 shares of the company’s stock after selling 32,963 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in SiTime were worth $7,672,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Driehaus Capital Management LLC acquired a new position in shares of SiTime during the 2nd quarter valued at $16,831,000. Vanguard Group Inc. boosted its position in shares of SiTime by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after buying an additional 85,800 shares during the period. William Blair Investment Management LLC grew its stake in shares of SiTime by 62.0% in the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after buying an additional 79,648 shares in the last quarter. F M Investments LLC purchased a new stake in shares of SiTime during the 2nd quarter valued at about $8,909,000. Finally, LMR Partners LLP lifted its position in SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after acquiring an additional 70,500 shares in the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SiTime

In other SiTime news, Director Torsten Kreindl sold 6,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the completion of the transaction, the director now directly owns 13,511 shares of the company’s stock, valued at $2,984,039.46. The trade was a 30.75 % decrease in their position. 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 the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.16, for a total transaction of $210,160.00. Following the completion of the sale, the insider now owns 108,574 shares in the company, valued at $22,817,911.84. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,234 shares of company stock worth $6,454,237. 2.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Needham & Company LLC lifted their price objective on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus boosted their price objective on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Roth Mkm raised 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, Barclays boosted their price target on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th.

SiTime Price Performance

NASDAQ SITM opened at $210.50 on Friday. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of -50.40 and a beta of 1.83. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $228.12. The company’s fifty day moving average price is $180.17 and its two-hundred day moving average price is $148.36.

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

SiTime Company 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.