SiTime Corporation $SITM Shares Sold by S Squared Technology LLC

S Squared Technology LLC cut its stake in SiTime Corporation (NASDAQ:SITM) by 32.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,289 shares of the company’s stock after selling 7,000 shares during the period. SiTime makes up approximately 1.3% of S Squared Technology LLC’s investment portfolio, making the stock its 26th biggest position. S Squared Technology LLC’s holdings in SiTime were worth $3,045,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peregrine Investment Management Inc. grew its position in SiTime by 28.4% in the second quarter. Peregrine Investment Management Inc. now owns 67,870 shares of the company’s stock worth $14,462,000 after buying an additional 15,000 shares during the last quarter. Fred Alger Management LLC lifted its position in shares of SiTime by 45.5% during the 1st quarter. Fred Alger Management LLC now owns 128,525 shares of the company’s stock valued at $19,648,000 after acquiring an additional 40,220 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in shares of SiTime during the 2nd quarter worth $298,000. Verdence Capital Advisors LLC acquired a new position in shares of SiTime in the 2nd quarter worth $230,000. Finally, William Blair Investment Management LLC raised its position in shares of SiTime by 4.1% during the second quarter. William Blair Investment Management LLC now owns 112,789 shares of the company’s stock worth $24,033,000 after purchasing an additional 4,469 shares during the period. Institutional investors own 84.31% of the company’s stock.

Insider Transactions at SiTime

In related news, insider Piyush B. Sevalia sold 2,056 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $251.50, for a total value of $517,084.00. Following the transaction, the insider owned 78,757 shares in the company, valued at approximately $19,807,385.50. This represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $231.75, for a total transaction of $695,250.00. Following the transaction, the insider directly owned 90,433 shares in the company, valued at approximately $20,957,847.75. The trade was a 3.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 34,867 shares of company stock valued at $9,168,213. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SITM shares. UBS Group increased their price target on SiTime from $355.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday. Barclays raised their target price on shares of SiTime from $220.00 to $260.00 and gave the stock an “underweight” rating in a report on Thursday. Roth Capital restated a “buy” rating and set a $350.00 price target on shares of SiTime in a report on Thursday. Needham & Company LLC raised their price objective on shares of SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $329.17.

SiTime Stock Performance

SITM stock opened at $326.94 on Monday. The stock has a market cap of $8.53 billion, a P/E ratio of -110.45 and a beta of 2.36. The firm has a 50 day simple moving average of $282.61 and a 200 day simple moving average of $231.90. SiTime Corporation has a 52 week low of $105.40 and a 52 week high of $386.00.

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