KBC Group NV Decreases Stock Position in SiTime Co. (NASDAQ:SITM)

KBC Group NV cut its position in SiTime Co. (NASDAQ:SITM) by 22.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,218 shares of the company’s stock after selling 1,770 shares during the period. KBC Group NV’s holdings in SiTime were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Signaturefd LLC boosted its stake in SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in SiTime by 59.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. GAMMA Investing LLC raised its holdings in SiTime by 281.0% in the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after acquiring an additional 281 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in SiTime in the 2nd quarter worth approximately $49,000. Finally, Van ECK Associates Corp acquired a new position in shares of SiTime during the 3rd quarter worth approximately $123,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SiTime

In other news, Director Torsten Kreindl sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $220.86, for a total value of $1,325,160.00. Following the completion of the transaction, the director now owns 13,511 shares of the company’s stock, valued at approximately $2,984,039.46. This trade represents a 30.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lionel Bonnot sold 3,230 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $140.55, for a total transaction of $453,976.50. Following the sale, the insider now directly owns 87,525 shares in the company, valued at approximately $12,301,638.75. The trade was a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,464 shares of company stock worth $6,698,053 over the last ninety days. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

SiTime Price Performance

Shares of SITM stock opened at $199.93 on Tuesday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $228.12. The firm has a market cap of $4.67 billion, a PE ratio of -48.29 and a beta of 1.83. The company has a 50-day moving average of $176.00 and a two-hundred day moving average of $146.34.

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

SiTime 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.