Trillium Asset Management LLC Cuts Stake in SiTime Corporation $SITM

Trillium Asset Management LLC reduced its stake in SiTime Corporation (NASDAQ:SITM) by 44.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 24,913 shares of the company’s stock after selling 19,933 shares during the quarter. Trillium Asset Management LLC owned 0.10% of SiTime worth $9,135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of SiTime by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock worth $997,904,000 after buying an additional 61,336 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of SiTime by 1.8% in the 3rd quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock worth $312,550,000 after buying an additional 18,165 shares during the last quarter. State Street Corp boosted its holdings in shares of SiTime by 3.7% in the 2nd quarter. State Street Corp now owns 911,280 shares of the company’s stock worth $194,176,000 after buying an additional 32,178 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of SiTime by 22.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after buying an additional 132,948 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of SiTime by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 539,425 shares of the company’s stock worth $190,550,000 after buying an additional 15,850 shares during the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Akira Takata sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total value of $1,291,290.00. Following the sale, the director directly owned 12,234 shares in the company, valued at approximately $10,531,761.24. The trade was a 10.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $702.90, for a total value of $702,900.00. Following the sale, the insider owned 78,936 shares in the company, valued at approximately $55,484,114.40. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 52,624 shares of company stock worth $35,942,053 in the last ninety days. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SITM shares. The Goldman Sachs Group reissued a “buy” rating and issued a $800.00 price target on shares of SiTime in a report on Thursday, May 7th. Stifel Nicolaus boosted their price target on shares of SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Needham & Company LLC boosted their price target on shares of SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. UBS Group boosted 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. Finally, Zacks Research upgraded 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $661.88.

SiTime Stock Performance

Shares of SiTime stock opened at $729.89 on Friday. 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 $618.04 and its 200 day simple moving average is $451.56. The stock has a market capitalization of $19.27 billion, a P/E ratio of -722.66 and a beta of 2.94.

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

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.