SiTime Corporation $SITM Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in SiTime Corporation (NASDAQ:SITM) by 3.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,683 shares of the company’s stock after selling 101 shares during the quarter. Mutual of America Capital Management LLC’s holdings in SiTime were worth $572,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Game Plan Financial Advisors LLC purchased a new stake in SiTime during the 2nd quarter worth about $25,000. Advisors Asset Management Inc. grew its holdings in shares of SiTime by 33.6% during the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after buying an additional 88 shares in the last quarter. CWM LLC raised its position in shares of SiTime by 69.0% in the first quarter. CWM LLC now owns 453 shares of the company’s stock valued at $69,000 after buying an additional 185 shares during the last quarter. Praxis Investment Management Inc. purchased a new position in shares of SiTime during the second quarter valued at approximately $202,000. Finally, Xponance Inc. lifted its stake in shares of SiTime by 7.2% during the first quarter. Xponance Inc. now owns 1,419 shares of the company’s stock valued at $217,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Buying and Selling at SiTime

In related news, CEO Rajesh Vashist sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $294.00, for a total transaction of $588,000.00. Following the transaction, the chief executive officer directly owned 451,208 shares of the company’s stock, valued at approximately $132,655,152. The trade was a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Piyush B. Sevalia sold 2,056 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $251.50, for a total value of $517,084.00. Following the completion of the transaction, the insider owned 78,757 shares of the company’s stock, valued at approximately $19,807,385.50. This represents a 2.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,367 shares of company stock worth $9,330,713. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Raymond James Financial reiterated an “outperform” rating and issued a $270.00 price target (up from $250.00) on shares of SiTime in a report on Friday, August 29th. UBS Group upped their target price on SiTime from $260.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research note on Wednesday, October 8th. Stifel Nicolaus upped their price objective on shares of SiTime from $230.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Finally, Barclays increased their price objective on shares of SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, SiTime currently has a consensus rating of “Hold” and a consensus target price of $274.17.

SiTime Trading Up 3.2%

NASDAQ:SITM opened at $276.80 on Tuesday. The firm’s fifty day simple moving average is $272.03 and its 200 day simple moving average is $221.12. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $323.66. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of -79.54 and a beta of 2.35.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results 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. The firm had revenue of $69.49 million during the quarter, compared to the consensus estimate of $64.66 million. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%.The firm’s quarterly revenue was up 58.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 EPS. On average, analysts predict that SiTime Corporation will post -2.44 earnings per share for the current year.

SiTime 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.