SiTime Co. (NASDAQ:SITM) Holdings Lowered by Jennison Associates LLC

Jennison Associates LLC lessened its stake in shares of SiTime Co. (NASDAQ:SITM) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 256,426 shares of the company’s stock after selling 1,804 shares during the period. Jennison Associates LLC owned about 1.10% of SiTime worth $55,011,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of SiTime by 9.7% in the second quarter. The Manufacturers Life Insurance Company now owns 10,200 shares of the company’s stock valued at $1,269,000 after purchasing an additional 898 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of SiTime in the third quarter worth approximately $878,000. Handelsbanken Fonder AB increased its stake in SiTime by 17.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 5,984 shares of the company’s stock valued at $1,026,000 after buying an additional 900 shares during the period. GAMMA Investing LLC boosted its stake in shares of SiTime by 95.0% during the 3rd quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock valued at $127,000 after buying an additional 362 shares during the period. Finally, Creative Planning purchased a new position in shares of SiTime during the 3rd quarter valued at $842,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Trading Up 0.2 %

Shares of NASDAQ SITM opened at $204.66 on Tuesday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18. The company has a 50-day moving average of $228.31 and a two-hundred day moving average of $185.33. The company has a market cap of $4.78 billion, a PE ratio of -49.43 and a beta of 1.82.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The company had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. During the same quarter last year, the firm earned ($0.81) EPS. The company’s revenue for the quarter was up 62.4% on a year-over-year basis. As a group, equities research analysts forecast that SiTime Co. will post -2.98 earnings per share for the current year.

Analysts Set New Price Targets

SITM has been the subject of a number of research reports. Needham & Company LLC lifted their price objective on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus lifted their price objective on shares of SiTime from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Roth Mkm increased their target price on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays upped their price target on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th.

Insider Transactions at SiTime

In other news, CEO Rajesh Vashist sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $259.25, for a total value of $3,111,000.00. Following the sale, the chief executive officer now directly owns 24,781 shares of the company’s stock, valued at approximately $6,424,474.25. This represents a 32.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 363 shares of SiTime stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $216.25, for a total value of $78,498.75. Following the transaction, the insider now owns 104,322 shares of the company’s stock, valued at $22,559,632.50. This represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,931 shares of company stock valued at $6,326,724 over the last quarter. Corporate insiders own 2.30% of the company’s stock.

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.