Amica Mutual Insurance Co. Sells 826 Shares of SiTime Corporation $SITM

Amica Mutual Insurance Co. lessened its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 14.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,010 shares of the company’s stock after selling 826 shares during the quarter. Amica Mutual Insurance Co.’s holdings in SiTime were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Alliancebernstein L.P. raised its holdings in SiTime by 2,016.8% in the 1st quarter. Alliancebernstein L.P. now owns 443,227 shares of the company’s stock worth $67,756,000 after purchasing an additional 422,288 shares during the period. Eventide Asset Management LLC grew its holdings in SiTime by 5,015.9% during the first quarter. Eventide Asset Management LLC now owns 166,214 shares of the company’s stock valued at $25,408,000 after purchasing an additional 162,965 shares during the period. Neuberger Berman Group LLC increased its position in SiTime by 360.8% in the first quarter. Neuberger Berman Group LLC now owns 135,211 shares of the company’s stock worth $20,670,000 after buying an additional 105,868 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of SiTime by 17.0% in the first quarter. Ameriprise Financial Inc. now owns 603,333 shares of the company’s stock worth $92,233,000 after buying an additional 87,598 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of SiTime by 41.9% in the first quarter. Wellington Management Group LLP now owns 277,590 shares of the company’s stock worth $42,435,000 after buying an additional 82,017 shares during the period. Institutional investors own 84.31% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Rajesh Vashist sold 2,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $294.00, for a total value of $588,000.00. Following the completion of the transaction, the chief executive officer owned 451,208 shares of the company’s stock, valued at approximately $132,655,152. This trade represents a 0.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samsheer Ahamad sold 6,000 shares of SiTime stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $250.00, for a total value of $1,500,000.00. Following the completion of the transaction, the insider owned 61,888 shares of the company’s stock, valued at approximately $15,472,000. This represents a 8.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 34,867 shares of company stock worth $9,168,213. Insiders own 2.10% of the company’s stock.

SiTime Trading Down 3.8%

NASDAQ:SITM opened at $326.94 on Friday. The business’s 50-day moving average is $282.61 and its 200 day moving average is $231.24. SiTime Corporation has a 12 month low of $105.40 and a 12 month high of $386.00. The company has a market capitalization of $8.50 billion, a P/E ratio of -110.45 and a beta of 2.36.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.16. The business had revenue of $83.57 million during the quarter, compared to analysts’ expectations of $78.08 million. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. On average, research analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

SITM has been the subject of a number of recent research reports. Stifel Nicolaus set a $360.00 price objective on SiTime in a research note on Thursday. Needham & Company LLC increased their price objective on shares of SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research note on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and issued a $270.00 price target (up previously from $250.00) on shares of SiTime in a research note on Friday, August 29th. Finally, UBS Group raised their price target on SiTime from $355.00 to $375.00 and gave the company a “buy” rating in a report on Thursday. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $329.17.

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.