SiTime Co. (NASDAQ:SITM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in SiTime Co. (NASDAQ:SITM) by 4.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,474 shares of the company’s stock after selling 164 shares during the quarter. Victory Capital Management Inc.’s holdings in SiTime were worth $596,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Driehaus Capital Management LLC purchased a new stake in SiTime in the second quarter valued at approximately $16,831,000. Vanguard Group Inc. raised its holdings in shares of 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 buying an additional 85,800 shares during the period. William Blair Investment Management LLC lifted its stake in SiTime by 62.0% during the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after acquiring an additional 79,648 shares in the last quarter. F M Investments LLC purchased a new position in SiTime during the 2nd quarter valued at about $8,909,000. Finally, Principal Financial Group Inc. grew 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 in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

SITM has been the topic of several research reports. Barclays increased 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 increased their target price on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Needham & Company LLC raised their price target on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Roth Mkm upped their price objective on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

SiTime Stock Performance

Shares of SiTime stock opened at $204.85 on Friday. The business has a 50-day simple moving average of $187.01 and a 200-day simple moving average of $152.31. The company has a market cap of $4.79 billion, a PE ratio of -49.48 and a beta of 1.83. SiTime Co. has a one year low of $72.39 and a one year high of $228.12.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 EPS 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 during the quarter, compared to analysts’ expectations of $55.10 million. During the same quarter in the previous year, the business posted ($0.81) EPS. The firm’s revenue was up 62.4% on a year-over-year basis. On average, sell-side analysts predict that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Torsten Kreindl sold 6,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the sale, the director now owns 13,511 shares of the company’s stock, valued at approximately $2,984,039.46. This trade represents a 30.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of the company’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 value of $140,420.00. Following the completion of the transaction, the insider now directly owns 111,581 shares of the company’s stock, valued at $15,621,340. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,514 shares of company stock worth $6,382,144. Corporate 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.