SiTime Corporation $SITM Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lessened its stake in SiTime Corporation (NASDAQ:SITM) by 6.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,254 shares of the company’s stock after selling 400 shares during the period. Ensign Peak Advisors Inc’s holdings in SiTime were worth $1,333,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Ameriprise Financial Inc. boosted its holdings in SiTime by 17.0% in the 1st quarter. Ameriprise Financial Inc. now owns 603,333 shares of the company’s stock worth $92,233,000 after buying an additional 87,598 shares during the last quarter. Geode Capital Management LLC boosted its stake in SiTime by 11.2% during the second quarter. Geode Capital Management LLC now owns 506,400 shares of the company’s stock worth $107,918,000 after buying an additional 51,063 shares during the last quarter. Alliancebernstein L.P. grew its holdings in SiTime by 2,016.8% in the 1st quarter. Alliancebernstein L.P. now owns 443,227 shares of the company’s stock valued at $67,756,000 after buying an additional 422,288 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of SiTime by 41.9% in the 1st quarter. Wellington Management Group LLP now owns 277,590 shares of the company’s stock worth $42,435,000 after acquiring an additional 82,017 shares during the last quarter. Finally, Eventide Asset Management LLC raised its holdings in shares of SiTime by 5,015.9% during the 1st quarter. Eventide Asset Management LLC now owns 166,214 shares of the company’s stock worth $25,408,000 after acquiring an additional 162,965 shares during the period. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SITM shares. UBS Group raised their price objective on shares of SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Roth Capital reissued a “buy” rating and issued a $350.00 price target on shares of SiTime in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Barclays increased their price objective on SiTime from $220.00 to $260.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Finally, Loop Capital began coverage on SiTime in a research note on Friday, November 21st. They set a “buy” rating and a $350.00 target price for the company. Six equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $332.14.

SiTime Stock Performance

Shares of SITM stock opened at $300.53 on Friday. The firm has a market cap of $7.84 billion, a P/E ratio of -101.53 and a beta of 2.36. The firm’s 50 day moving average price is $290.24 and its 200-day moving average price is $243.41. SiTime Corporation has a one year low of $105.40 and a one year high of $386.00.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The company had revenue of $83.57 million for the quarter, compared to analyst estimates of $78.08 million. During the same quarter in the previous year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was up 44.8% compared to the same quarter last year. As a group, research analysts predict that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Insider Activity

In related news, EVP Elizabeth A. Howe sold 5,099 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $319.00, for a total transaction of $1,626,581.00. Following the completion of the transaction, the executive vice president directly owned 59,070 shares in the company, valued at $18,843,330. This trade represents a 7.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rajesh Vashist sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $329.00, for a total transaction of $3,290,000.00. Following the sale, the chief executive officer owned 439,208 shares in the company, valued at $144,499,432. This trade represents a 2.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 42,867 shares of company stock worth $11,972,893 in the last quarter. Insiders own 2.10% 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.