SiTime Corporation $SITM Position Trimmed by Swiss National Bank

Swiss National Bank decreased its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,200 shares of the company’s stock after selling 200 shares during the period. Swiss National Bank owned about 0.15% of SiTime worth $5,534,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Deutsche Bank AG lifted its holdings in SiTime by 0.7% in the first quarter. Deutsche Bank AG now owns 51,157 shares of the company’s stock worth $7,820,000 after purchasing an additional 359 shares during the period. Forge First Asset Management Inc. purchased a new stake in SiTime during the first quarter valued at about $4,225,000. US Bancorp DE increased its holdings in shares of SiTime by 134.6% in the 1st quarter. US Bancorp DE now owns 1,654 shares of the company’s stock valued at $253,000 after purchasing an additional 949 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of SiTime in the first quarter worth approximately $1,225,000. Finally, Royce & Associates LP lifted its position in shares of SiTime by 200.5% in the first quarter. Royce & Associates LP now owns 61,922 shares of the company’s stock worth $9,466,000 after purchasing an additional 41,316 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Price Performance

Shares of SITM stock opened at $226.71 on Tuesday. The stock has a market cap of $5.89 billion, a PE ratio of -65.15 and a beta of 2.20. The stock has a 50-day moving average of $210.00 and a 200-day moving average of $184.17. SiTime Corporation has a one year low of $105.40 and a one year high of $268.18.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.18. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%. The business had revenue of $69.49 million during the quarter, compared to analyst estimates of $64.66 million. During the same period in the previous year, the firm earned $0.12 EPS. SiTime’s quarterly revenue was up 58.3% compared to the same quarter last year. As a group, research analysts anticipate that SiTime Corporation will post -2.44 earnings per share for the current year.

Insider Activity at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $201.36, for a total transaction of $201,360.00. Following the completion of the sale, the insider owned 101,319 shares of the company’s stock, valued at $20,401,593.84. This trade represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $200.00, for a total value of $800,000.00. Following the transaction, the insider owned 72,021 shares in the company, valued at $14,404,200. The trade was a 5.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,917 shares of company stock worth $6,026,915. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SITM. Stifel Nicolaus increased their price objective on SiTime from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, July 18th. UBS Group assumed coverage on shares of SiTime in a research note on Thursday, August 14th. They issued a “buy” rating and a $260.00 price objective on the stock. Finally, Barclays raised their target price on SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $240.00.

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.