Rice Hall James & Associates LLC Reduces Holdings in SiTime Co. (NASDAQ:SITM)

Rice Hall James & Associates LLC decreased its stake in shares of SiTime Co. (NASDAQ:SITM) by 14.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,083 shares of the company’s stock after selling 7,211 shares during the period. Rice Hall James & Associates LLC owned approximately 0.19% of SiTime worth $7,561,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Driehaus Capital Management LLC bought a new stake in SiTime during the 2nd quarter valued at approximately $16,831,000. Vanguard Group Inc. boosted its position in shares of SiTime by 4.1% during the first 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 in the last quarter. William Blair Investment Management LLC grew its stake in SiTime by 62.0% in 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. F M Investments LLC bought a new position in SiTime in the second quarter worth $8,909,000. Finally, Roubaix Capital LLC purchased a new position in SiTime during the first quarter valued at $5,288,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SITM. Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a research note on Tuesday, August 27th. Stifel Nicolaus raised their price objective on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th.

SiTime Stock Down 7.2 %

SiTime stock opened at $169.01 on Friday. SiTime Co. has a one year low of $72.39 and a one year high of $188.98. The business’s fifty day moving average is $163.20 and its 200 day moving average is $136.42.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. The firm had revenue of $43.90 million for the quarter, compared to the consensus estimate of $41.01 million. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The business’s quarterly revenue was up 58.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.17) EPS. As a group, research analysts anticipate that SiTime Co. will post -3.03 EPS for the current year.

Insider Buying and Selling at SiTime

In other news, insider Lionel Bonnot sold 3,230 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $140.55, for a total value of $453,976.50. Following the transaction, the insider now directly owns 87,525 shares in the company, valued at $12,301,638.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Lionel Bonnot sold 3,230 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $140.55, for a total value of $453,976.50. Following the transaction, the insider now owns 87,525 shares in the company, valued at $12,301,638.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Fariborz Assaderaghi sold 1,003 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $140.00, for a total transaction of $140,420.00. Following the sale, the insider now owns 111,581 shares of the company’s stock, valued at $15,621,340. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,464 shares of company stock worth $4,681,973. Insiders own 2.30% of the company’s stock.

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.