Segall Bryant & Hamill LLC Trims Stock Holdings in SiTime Co. (NASDAQ:SITM)

Segall Bryant & Hamill LLC reduced its position in SiTime Co. (NASDAQ:SITM) by 42.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,734 shares of the company’s stock after selling 32,963 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.19% of SiTime worth $7,672,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. CANADA LIFE ASSURANCE Co boosted its stake in SiTime by 31.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company’s stock worth $1,712,000 after purchasing an additional 4,410 shares during the period. UniSuper Management Pty Ltd acquired a new stake in shares of SiTime during the first quarter worth about $363,000. Swedbank AB purchased a new position in shares of SiTime during the first quarter worth about $2,144,000. LMR Partners LLP increased its position in SiTime by 705.0% in the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after acquiring an additional 70,500 shares during the period. Finally, Vanguard Group Inc. raised its stake in SiTime by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after acquiring an additional 85,800 shares during the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

SiTime Stock Performance

SiTime stock opened at $210.50 on Friday. SiTime Co. has a one year low of $72.39 and a one year high of $228.12. The company has a market cap of $4.92 billion, a P/E ratio of -50.40 and a beta of 1.83. The business has a fifty day moving average of $180.17 and a two-hundred day moving average of $148.36.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping 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 company had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. During the same period in the prior year, the business posted ($0.81) earnings per share. The firm’s revenue for the quarter was up 62.4% compared to the same quarter last year. Sell-side analysts predict that SiTime Co. will post -2.98 EPS for the current year.

Insider Activity at SiTime

In other news, insider Fariborz Assaderaghi sold 1,003 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $140.00, for a total value of $140,420.00. Following the completion of the transaction, the insider now owns 111,581 shares in the company, valued at $15,621,340. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 completion of the sale, the chief executive officer now owns 424,417 shares in the company, valued at $72,180,599.19. This represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,234 shares of company stock valued at $6,454,237 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SITM. Barclays lifted their target price on SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Roth Mkm boosted their price objective 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. Needham & Company LLC raised 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, 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 note on Thursday, October 17th.

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.