Premier Fund Managers Ltd Decreases Stock Holdings in SiTime Co. (NASDAQ:SITM)

Premier Fund Managers Ltd reduced its position in shares of SiTime Co. (NASDAQ:SITM) by 22.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,235 shares of the company’s stock after selling 2,085 shares during the period. Premier Fund Managers Ltd’s holdings in SiTime were worth $1,273,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SITM. CANADA LIFE ASSURANCE Co lifted its holdings in SiTime by 31.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company’s stock worth $1,712,000 after buying an additional 4,410 shares during the period. UniSuper Management Pty Ltd purchased a new stake in SiTime in the first quarter worth $363,000. Swedbank AB purchased a new stake in SiTime in the first quarter worth $2,144,000. Vanguard Group Inc. boosted its holdings in SiTime by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after acquiring an additional 85,800 shares in the last quarter. Finally, LMR Partners LLP increased its position in SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after purchasing an additional 70,500 shares during the period. 84.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SITM shares. Roth Mkm raised their target price on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays raised their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Needham & Company LLC upped their target price on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus raised their target price on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th.

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 1,083 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total transaction of $150,591.15. Following the completion of the sale, the insider now directly owns 112,584 shares in the company, valued at approximately $15,654,805.20. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Torsten Kreindl sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the completion of the transaction, the director now owns 13,511 shares in the company, valued at approximately $2,984,039.46. This represents a 30.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,464 shares of company stock valued at $6,698,053. 2.30% of the stock is currently owned by corporate insiders.

SiTime Price Performance

Shares of NASDAQ SITM opened at $208.49 on Wednesday. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $228.12. The firm has a 50-day moving average of $177.33 and a 200 day moving average of $147.11. The stock has a market cap of $4.87 billion, a P/E ratio of -50.36 and a beta of 1.83.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. The firm had revenue of $57.70 million during the quarter, compared to analyst estimates of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The business’s revenue was up 62.4% on a year-over-year basis. During the same period last year, the business earned ($0.81) earnings per share. Research analysts expect that SiTime Co. will post -2.98 earnings per share for the current fiscal year.

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.