Eagle Asset Management Inc. Sells 45,211 Shares of SiTime Co. (NASDAQ:SITM)

Eagle Asset Management Inc. decreased its stake in SiTime Co. (NASDAQ:SITM) by 57.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 33,502 shares of the company’s stock after selling 45,211 shares during the quarter. Eagle Asset Management Inc.’s holdings in SiTime were worth $5,746,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after purchasing an additional 85,800 shares during the last quarter. Principal Financial Group Inc. increased its position in SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after acquiring an additional 59,931 shares during the period. William Blair Investment Management LLC increased its position in SiTime by 62.0% in the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after acquiring an additional 79,648 shares during the period. Charles Schwab Investment Management Inc. increased its position in SiTime by 7.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock valued at $28,440,000 after acquiring an additional 11,955 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in SiTime in the 2nd quarter valued at approximately $16,831,000. Institutional investors own 84.31% of the company’s stock.

SiTime Price Performance

Shares of NASDAQ SITM opened at $211.08 on Monday. The stock has a market capitalization of $4.93 billion, a P/E ratio of -50.99 and a beta of 1.83. The company has a 50-day moving average price of $182.84 and a 200-day moving average price of $150.32. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $228.12.

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, beating analysts’ consensus estimates of $0.26 by $0.14. The firm had revenue of $57.70 million during 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 business’s revenue was up 62.4% on a year-over-year basis. During the same period last year, the company earned ($0.81) earnings per share. As a group, equities research analysts anticipate that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays upped their price target on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Stifel Nicolaus increased their price objective 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. Needham & Company LLC lifted their target price on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Roth Mkm lifted their price target on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.16, for a total transaction of $210,160.00. Following the transaction, the insider now directly owns 108,574 shares in the company, valued at approximately $22,817,911.84. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajesh Vashist sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the transaction, the chief executive officer now owns 424,417 shares in the company, valued at approximately $72,180,599.19. This trade represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,234 shares of company stock worth $6,454,237. 2.30% of the stock is owned by insiders.

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.