Trillium Asset Management LLC Sells 19,933 Shares of SiTime Corporation $SITM

Trillium Asset Management LLC cut its stake in shares of SiTime Corporation (NASDAQ:SITM) by 44.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,913 shares of the company’s stock after selling 19,933 shares during the period. Trillium Asset Management LLC’s holdings in SiTime were worth $9,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Castleark Management LLC increased its position in shares of SiTime by 3.0% during the fourth quarter. Castleark Management LLC now owns 33,554 shares of the company’s stock valued at $11,851,000 after buying an additional 970 shares during the period. Advisors Asset Management Inc. increased its position in shares of SiTime by 29.7% during the fourth quarter. Advisors Asset Management Inc. now owns 695 shares of the company’s stock valued at $245,000 after buying an additional 159 shares during the period. Hollencrest Capital Management increased its position in shares of SiTime by 952.2% during the fourth quarter. Hollencrest Capital Management now owns 705 shares of the company’s stock valued at $249,000 after buying an additional 638 shares during the period. Federation des caisses Desjardins du Quebec increased its position in shares of SiTime by 1,170.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,842 shares of the company’s stock valued at $651,000 after buying an additional 1,697 shares during the period. Finally, HRT Financial LP bought a new stake in shares of SiTime during the fourth quarter valued at about $1,292,000. 84.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SITM has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on shares of SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. The Goldman Sachs Group restated a “buy” rating and issued a $800.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Barclays upgraded shares of SiTime from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $400.00 to $850.00 in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $661.88.

Insiders Place Their Bets

In other SiTime news, Director Torsten Kreindl sold 710 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $720.00, for a total value of $511,200.00. Following the completion of the sale, the director owned 13,141 shares of the company’s stock, valued at $9,461,520. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Akira Takata sold 1,500 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 12,234 shares of the company’s stock, valued at approximately $10,531,761.24. This represents a 10.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,624 shares of company stock valued at $35,942,053 over the last 90 days. Company insiders own 1.40% of the company’s stock.

SiTime Trading Up 1.2%

SITM stock opened at $729.89 on Friday. The company’s 50 day moving average is $618.04 and its 200 day moving average is $451.56. The stock has a market cap of $19.27 billion, a price-to-earnings ratio of -722.66 and a beta of 2.94. SiTime Corporation has a 1-year low of $186.49 and a 1-year high of $901.81.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.30. The business had revenue of $113.57 million during the quarter, compared to analyst estimates of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.SiTime’s revenue for the quarter was up 88.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. As a group, sell-side analysts forecast that SiTime Corporation will post 3.23 EPS for the current fiscal year.

SiTime 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.