Wellington Management Group LLP Sells 4,627 Shares of SiTime Co. (NASDAQ:SITM)

Wellington Management Group LLP decreased its stake in SiTime Co. (NASDAQ:SITM) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,352 shares of the company’s stock after selling 4,627 shares during the period. Wellington Management Group LLP owned 0.61% of SiTime worth $24,586,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. FMR LLC grew its holdings in SiTime by 1.1% during the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after purchasing an additional 39,119 shares during the period. State Street Corp grew its holdings in SiTime by 3.1% during the third quarter. State Street Corp now owns 922,974 shares of the company’s stock worth $158,299,000 after purchasing an additional 27,692 shares during the period. Principal Financial Group Inc. grew its holdings in SiTime by 15.4% during the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after purchasing an additional 59,931 shares during the period. William Blair Investment Management LLC grew its holdings in SiTime by 62.0% during the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after purchasing an additional 79,648 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in SiTime by 7.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock worth $28,440,000 after purchasing an additional 11,955 shares during the period. Institutional investors own 84.31% of the company’s stock.

SiTime Trading Down 1.9 %

NASDAQ SITM opened at $252.61 on Friday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18. The company has a 50 day moving average of $199.83 and a 200-day moving average of $159.79. The company has a market cap of $5.90 billion, a price-to-earnings ratio of -61.02 and a beta of 1.86.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. 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 business earned ($0.81) earnings per share. The company’s revenue was up 62.4% on a year-over-year basis. On average, equities research analysts forecast that SiTime Co. will post -2.98 earnings per share for the current year.

Insider Buying and Selling at SiTime

In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the sale, the chief executive officer now owns 424,417 shares of the company’s stock, valued at approximately $72,180,599.19. The trade was a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Piyush B. Sevalia sold 807 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total transaction of $129,120.00. Following the sale, the insider now directly owns 87,534 shares in the company, valued at approximately $14,005,440. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,513 shares of company stock worth $6,708,428 over the last three months. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

SITM has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price target on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Needham & Company LLC raised their price objective on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays raised their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Finally, Roth Mkm raised their price objective on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

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.