SiTime Corporation $SITM Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC lessened its stake in shares of SiTime Corporation (NASDAQ:SITM) by 4.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,511 shares of the company’s stock after selling 2,221 shares during the quarter. Trillium Asset Management LLC’s holdings in SiTime were worth $9,697,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in shares of SiTime by 40.0% in the second quarter. Bank of New York Mellon Corp now owns 162,322 shares of the company’s stock worth $34,588,000 after buying an additional 46,359 shares during the period. K.J. Harrison & Partners Inc boosted its position in shares of SiTime by 40.0% in the second quarter. K.J. Harrison & Partners Inc now owns 7,000 shares of the company’s stock worth $1,492,000 after buying an additional 2,000 shares during the period. Bank of Montreal Can boosted its position in shares of SiTime by 8.5% in the second quarter. Bank of Montreal Can now owns 3,168 shares of the company’s stock worth $675,000 after buying an additional 247 shares during the period. Amalgamated Bank boosted its position in shares of SiTime by 8.5% in the second quarter. Amalgamated Bank now owns 5,872 shares of the company’s stock worth $1,251,000 after buying an additional 460 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its position in shares of SiTime by 84.1% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 89,197 shares of the company’s stock worth $19,006,000 after buying an additional 40,736 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on SITM. Barclays lifted their target price on SiTime from $180.00 to $220.00 and gave the company an “underweight” rating in a research note on Thursday, August 7th. Stifel Nicolaus increased their price objective on SiTime from $230.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. UBS Group raised their target price on SiTime from $260.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a report on Wednesday, October 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $270.00 price target (up from $250.00) on shares of SiTime in a research report on Friday, August 29th. Five research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, SiTime currently has a consensus rating of “Hold” and an average target price of $274.17.

SiTime Stock Down 3.1%

Shares of NASDAQ SITM opened at $279.31 on Wednesday. The firm’s 50-day simple moving average is $278.16 and its 200 day simple moving average is $228.02. The company has a market cap of $7.26 billion, a price-to-earnings ratio of -80.26 and a beta of 2.36. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $323.66.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.18. The business had revenue of $69.49 million for the quarter, compared to the consensus estimate of $64.66 million. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The firm’s quarterly revenue was up 58.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. On average, equities analysts expect that SiTime Corporation will post -2.44 earnings per share for the current year.

Insider Activity at SiTime

In other SiTime news, EVP Elizabeth A. Howe sold 5,099 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $319.00, for a total transaction of $1,626,581.00. Following the transaction, the executive vice president directly owned 59,070 shares in the company, valued at approximately $18,843,330. This represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Samsheer Ahamad sold 6,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $250.00, for a total transaction of $1,500,000.00. Following the transaction, the insider owned 61,888 shares in the company, valued at approximately $15,472,000. The trade was a 8.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 36,867 shares of company stock worth $9,598,213. Insiders own 2.30% of the company’s stock.

About SiTime

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.