Swedbank AB Trims Stock Holdings in SiTime Corporation $SITM

Swedbank AB lowered its position in shares of SiTime Corporation (NASDAQ:SITM) by 9.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 57,200 shares of the company’s stock after selling 6,000 shares during the period. Swedbank AB’s holdings in SiTime were worth $20,202,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Optiver Holding B.V. grew its stake in SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after acquiring an additional 32 shares in the last quarter. Atlas Brown Inc. grew its stake in SiTime by 1.6% during the fourth quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock valued at $810,000 after acquiring an additional 37 shares in the last quarter. CWM LLC grew its stake 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 acquiring an additional 38 shares in the last quarter. Bessemer Group Inc. grew its stake in SiTime by 27.4% during the third quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock valued at $55,000 after acquiring an additional 40 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in SiTime by 10.9% during the third quarter. Smartleaf Asset Management LLC now owns 427 shares of the company’s stock valued at $125,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Price Performance

SITM stock opened at $728.56 on Tuesday. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81. The stock has a market cap of $19.23 billion, a PE ratio of -721.35 and a beta of 2.91. The firm has a 50 day simple moving average of $518.19 and a two-hundred day simple moving average of $412.53.

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

Insider Activity at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 2,419 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $484.05, for a total value of $1,170,916.95. Following the completion of the transaction, the insider owned 84,250 shares of the company’s stock, valued at $40,781,212.50. The trade was a 2.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Akira Takata sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the completion of the transaction, the director directly owned 12,234 shares of the company’s stock, valued at approximately $10,531,761.24. This represents a 10.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,626 shares of company stock worth $4,184,697 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays raised shares of SiTime from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $400.00 to $850.00 in a research note on Thursday, May 7th. Roth Mkm reaffirmed a “buy” rating and set a $900.00 price objective on shares of SiTime in a research note on Thursday, May 7th. Needham & Company LLC boosted their price objective on shares of SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $661.88.

SiTime 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.