Swedbank AB Sells 13,000 Shares of SiTime Corporation $SITM

Swedbank AB lowered its holdings in SiTime Corporation (NASDAQ:SITM) by 22.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,200 shares of the company’s stock after selling 13,000 shares during the period. Swedbank AB’s holdings in SiTime were worth $15,264,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SITM. Los Angeles Capital Management LLC increased its position in shares of SiTime by 0.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock valued at $3,187,000 after purchasing an additional 25 shares during the last quarter. Atlas Brown Inc. boosted its holdings in shares of SiTime by 1.6% in the 4th quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock worth $810,000 after buying an additional 37 shares during the last quarter. CWM LLC grew its position in SiTime by 4.2% during the fourth quarter. CWM LLC now owns 951 shares of the company’s stock valued at $336,000 after buying an additional 38 shares during the period. Corient Private Wealth LLC grew its position in SiTime by 5.9% during the fourth quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock valued at $249,000 after buying an additional 39 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in SiTime by 7.7% during the second quarter. Lazard Asset Management LLC now owns 654 shares of the company’s stock worth $139,000 after buying an additional 47 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Performance

Shares of SiTime stock opened at $648.15 on Friday. The stock has a market capitalization of $17.11 billion, a P/E ratio of -641.73 and a beta of 2.91. SiTime Corporation has a 52-week low of $186.49 and a 52-week high of $901.81. The stock’s 50-day simple moving average is $701.13 and its 200 day simple moving average is $498.00.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. The firm had revenue of $113.57 million during the quarter, compared to analyst estimates of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The company’s quarterly revenue was up 88.3% on a year-over-year basis. During the same quarter last year, the business earned $0.26 earnings per share. Equities research analysts forecast that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Insider Activity at SiTime

In related news, Director Christine Heckart sold 1,290 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the transaction, the director directly owned 790 shares of the company’s stock, valued at approximately $553,000. This trade represents a 62.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raman Chitkara sold 2,000 shares of SiTime stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $727.38, for a total transaction of $1,454,760.00. Following the completion of the transaction, the director owned 19,898 shares of the company’s stock, valued at $14,473,407.24. This represents a 9.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 72,128 shares of company stock worth $51,401,463 in the last ninety days. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

SITM has been the topic of a number of research analyst reports. Zacks Research cut shares of SiTime from a “strong-buy” rating to a “hold” rating in a research note on Monday. Roth Capital restated a “buy” rating and set a $900.00 price target on shares of SiTime in a research note on Thursday, May 7th. UBS Group lifted their price target on shares of SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Needham & Company LLC upped their price objective on SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen lowered SiTime from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $661.88.

SiTime Company Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.