Silvercrest Asset Management Group LLC Reduces Stock Holdings in SiTime Co. (NASDAQ:SITM)

Silvercrest Asset Management Group LLC reduced its position in SiTime Co. (NASDAQ:SITM) by 0.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,621 shares of the company’s stock after selling 66 shares during the period. Silvercrest Asset Management Group LLC’s holdings in SiTime were worth $6,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC grew its stake in shares of SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company’s stock worth $6,515,000 after acquiring an additional 16,964 shares during the period. Smartleaf Asset Management LLC boosted its position in SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after purchasing an additional 206 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in shares of SiTime in the fourth quarter worth about $538,000. Proficio Capital Partners LLC bought a new stake in shares of SiTime in the fourth quarter valued at approximately $4,418,000. Finally, M&T Bank Corp purchased a new stake in shares of SiTime during the 4th quarter valued at approximately $235,000. 84.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SiTime

In other news, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total value of $163,630.32. Following the transaction, the insider now owns 92,847 shares of the company’s stock, valued at $14,636,401.08. This represents a 1.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajesh Vashist sold 20,000 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $210.65, for a total transaction of $4,213,000.00. Following the sale, the chief executive officer now owns 490,320 shares in the company, valued at approximately $103,285,908. This trade represents a 3.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,074 shares of company stock valued at $5,408,421 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.

SiTime Trading Up 2.3%

SiTime stock opened at $210.67 on Monday. SiTime Co. has a 1-year low of $105.40 and a 1-year high of $268.18. The firm has a market capitalization of $5.00 billion, a PE ratio of -52.02 and a beta of 2.24. The firm’s 50 day simple moving average is $158.11 and its 200 day simple moving average is $190.51.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.15. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The firm had revenue of $60.31 million for the quarter, compared to analysts’ expectations of $54.01 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The business’s quarterly revenue was up 82.7% on a year-over-year basis. Research analysts forecast that SiTime Co. will post -2.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SITM has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of SiTime from $110.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, May 8th. Needham & Company LLC lifted their price target on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Raymond James reiterated an “outperform” rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Finally, Stifel Nicolaus raised their target price on SiTime from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.00.

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.