Bank of New York Mellon Corp Has $17.73 Million Holdings in SiTime Corporation (NASDAQ:SITM)

Bank of New York Mellon Corp cut its holdings in SiTime Corporation (NASDAQ:SITM) by 4.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,963 shares of the company’s stock after selling 5,204 shares during the quarter. Bank of New York Mellon Corp’s holdings in SiTime were worth $17,727,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of SiTime by 27,559.1% during the first quarter. GAMMA Investing LLC now owns 261,102 shares of the company’s stock valued at $39,915,000 after purchasing an additional 260,158 shares in the last quarter. Invesco Ltd. boosted its stake in shares of SiTime by 11.0% during the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock valued at $210,921,000 after purchasing an additional 97,062 shares in the last quarter. Hood River Capital Management LLC boosted its stake in shares of SiTime by 27.0% during the fourth quarter. Hood River Capital Management LLC now owns 421,960 shares of the company’s stock valued at $90,523,000 after purchasing an additional 89,632 shares in the last quarter. Emerald Advisers LLC acquired a new stake in shares of SiTime during the fourth quarter valued at about $18,673,000. Finally, Capital World Investors acquired a new stake in shares of SiTime during the fourth quarter valued at about $17,654,000. 84.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SITM has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on SiTime from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday. Barclays lifted their price target on SiTime from $135.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, SiTime presently has an average rating of “Moderate Buy” and a consensus price target of $228.00.

SiTime Price Performance

Shares of SITM opened at $215.40 on Friday. SiTime Corporation has a 1 year low of $105.40 and a 1 year high of $268.18. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of -56.68 and a beta of 2.20. The business has a 50-day moving average of $209.37 and a 200-day moving average of $188.49.

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

Insiders Place Their Bets

In other SiTime news, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $200.00, for a total value of $800,000.00. Following the completion of the sale, the insider directly owned 72,021 shares in the company, valued at approximately $14,404,200. The trade was a 5.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,000 shares of SiTime stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $201.36, for a total value of $201,360.00. Following the completion of the sale, the insider owned 101,319 shares of the company’s stock, valued at approximately $20,401,593.84. The trade was a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,818 shares of company stock valued at $13,171,258 in the last 90 days. Company insiders own 2.10% of the company’s stock.

SiTime 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.