SiTime Co. (NASDAQ:SITM) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in SiTime Co. (NASDAQ:SITM) by 22.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,710 shares of the company’s stock after selling 773 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SiTime were worth $331,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Brown Advisory Inc. boosted its holdings in SiTime by 8.2% during the third quarter. Brown Advisory Inc. now owns 69,272 shares of the company’s stock worth $7,914,000 after buying an additional 5,269 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in SiTime during the third quarter valued at about $10,035,000. Park Avenue Securities LLC purchased a new stake in SiTime during the third quarter valued at about $268,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of SiTime by 1.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 178,166 shares of the company’s stock worth $20,355,000 after buying an additional 2,061 shares during the period. Finally, Watershed Asset Management L.L.C. increased its position in shares of SiTime by 22.1% in the third quarter. Watershed Asset Management L.L.C. now owns 9,400 shares of the company’s stock worth $1,074,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Price Performance

SiTime stock opened at $92.25 on Friday. SiTime Co. has a one year low of $72.39 and a one year high of $141.99. The business’s fifty day moving average is $87.90 and its 200 day moving average is $104.47. The stock has a market capitalization of $2.11 billion, a PE ratio of -25.41 and a beta of 1.78.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.01). SiTime had a negative return on equity of 10.21% and a negative net margin of 55.93%. The company had revenue of $42.40 million during the quarter, compared to the consensus estimate of $41.65 million. As a group, sell-side analysts expect that SiTime Co. will post -2.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Barclays raised their price objective on shares of SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Insider Buying and Selling at SiTime

In other news, insider Fariborz Assaderaghi sold 1,288 shares of SiTime stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $90.57, for a total value of $116,654.16. Following the sale, the insider now directly owns 111,491 shares of the company’s stock, valued at $10,097,739.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 3,602 shares of company stock valued at $319,899 in the last 90 days. 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.