KBC Group NV Decreases Stake in SiTime Corporation (NASDAQ:SITM)

KBC Group NV lowered its stake in SiTime Corporation (NASDAQ:SITM) by 17.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,253 shares of the company’s stock after selling 1,149 shares during the period. KBC Group NV’s holdings in SiTime were worth $803,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Fourth Dimension Wealth LLC purchased a new position in shares of SiTime during the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in SiTime during the first quarter worth about $32,000. Aster Capital Management DIFC Ltd purchased a new position in SiTime during the fourth quarter valued at approximately $58,000. Smartleaf Asset Management LLC raised its position in SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after acquiring an additional 206 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in SiTime in the fourth quarter valued at approximately $81,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Stock Up 1.6%

SITM opened at $212.61 on Friday. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $268.18. The company has a 50-day moving average price of $200.59 and a 200 day moving average price of $189.40. The company has a market cap of $5.04 billion, a PE ratio of -55.95 and a beta of 2.20.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.15. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. The company had revenue of $60.31 million during the quarter, compared to analysts’ expectations of $54.01 million. During the same quarter in the prior year, the company earned ($0.08) EPS. SiTime’s revenue was up 82.7% compared to the same quarter last year. As a group, sell-side analysts expect that SiTime Corporation will post -2.44 earnings per share for the current year.

Analyst Ratings Changes

SITM has been the subject of several analyst reports. Stifel Nicolaus boosted their target price on shares of SiTime from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Barclays lifted their price objective on shares of SiTime from $135.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Insider Activity at SiTime

In related news, insider Lionel Bonnot sold 1,991 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $201.36, for a total transaction of $400,907.76. Following the completion of the sale, the insider owned 82,579 shares of the company’s stock, valued at approximately $16,628,107.44. This represents a 2.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Piyush B. Sevalia sold 1,039 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $220.00, for a total transaction of $228,580.00. Following the completion of the transaction, the insider owned 85,516 shares in the company, valued at $18,813,520. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,818 shares of company stock worth $13,171,258 in the last 90 days. 2.10% of the stock is owned by insiders.

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.