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

Eagle Asset Management Inc. reduced its stake in SiTime Co. (NASDAQ:SITM) by 57.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,502 shares of the company’s stock after selling 45,211 shares during the quarter. Eagle Asset Management Inc. owned 0.14% of SiTime worth $5,746,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted its position in SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in SiTime by 59.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after buying an additional 88 shares in the last quarter. GAMMA Investing LLC lifted its position in SiTime by 281.0% during the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after buying an additional 281 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in SiTime during the 2nd quarter worth about $49,000. Finally, Van ECK Associates Corp bought a new stake in SiTime during the 3rd quarter worth about $123,000. 84.31% of the stock is owned by institutional investors.

SiTime Price Performance

SiTime stock opened at $211.08 on Monday. The firm has a market capitalization of $4.93 billion, a PE ratio of -50.99 and a beta of 1.83. The company’s 50-day moving average is $182.84 and its 200-day moving average is $150.32. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $228.12.

SiTime (NASDAQ:SITM) last released its quarterly earnings data 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 previous year, the business earned ($0.81) EPS. SiTime’s revenue for the quarter was up 62.4% compared to the same quarter last year. As a group, analysts expect that SiTime Co. will post -2.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Roth Mkm boosted their price target 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. Barclays boosted their price target 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. 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 report on Thursday, October 17th. Finally, Needham & Company LLC boosted their price objective 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.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,083 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total value of $150,591.15. Following the transaction, the insider now owns 112,584 shares in the company, valued at approximately $15,654,805.20. This represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Torsten Kreindl sold 6,000 shares of the company’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 owns 13,511 shares in the company, valued at approximately $2,984,039.46. This trade represents a 30.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,234 shares of company stock worth $6,454,237. Insiders own 2.30% of the company’s stock.

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.