SiTime Corporation $SITM Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in SiTime Corporation (NASDAQ:SITM) by 37.8% during the 1st quarter, Holdings Channel reports. The firm owned 2,994 shares of the company’s stock after selling 1,822 shares during the quarter. Hsbc Holdings PLC’s holdings in SiTime were worth $443,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in SiTime by 41.9% in the first quarter. Wellington Management Group LLP now owns 277,590 shares of the company’s stock valued at $42,435,000 after purchasing an additional 82,017 shares during the last quarter. Algert Global LLC grew its holdings in SiTime by 71.0% in the first quarter. Algert Global LLC now owns 23,074 shares of the company’s stock valued at $3,527,000 after purchasing an additional 9,581 shares during the last quarter. Roubaix Capital LLC purchased a new stake in shares of SiTime in the first quarter valued at $2,972,000. Raymond James Financial Inc. lifted its position in shares of SiTime by 132.6% in the first quarter. Raymond James Financial Inc. now owns 79,275 shares of the company’s stock valued at $12,119,000 after acquiring an additional 45,189 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of SiTime by 360.8% in the first quarter. Neuberger Berman Group LLC now owns 135,211 shares of the company’s stock valued at $20,670,000 after acquiring an additional 105,868 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SITM. UBS Group began coverage on SiTime in a research report on Thursday, August 14th. They issued a “buy” rating and a $260.00 price objective on the stock. Raymond James Financial restated an “outperform” rating and issued a $270.00 price objective (up from $250.00) on shares of SiTime in a research report on Friday. Barclays upped their price objective on SiTime from $180.00 to $220.00 and gave the company an “underweight” rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus upped their price objective on SiTime from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, SiTime currently has an average rating of “Moderate Buy” and a consensus price target of $243.33.

SiTime Trading Down 3.7%

NASDAQ SITM opened at $232.83 on Wednesday. The business’s 50-day moving average price is $212.44 and its 200 day moving average price is $187.91. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $268.18. The company has a market capitalization of $6.05 billion, a PE ratio of -66.91 and a beta of 2.18.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.18. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%.The firm had revenue of $69.49 million for the quarter, compared to the consensus estimate of $64.66 million. During the same period in the prior year, the business posted $0.12 earnings per share. The firm’s revenue for the quarter was up 58.3% compared to the same quarter last year. Equities analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Rajesh Vashist sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $215.00, for a total value of $2,150,000.00. Following the transaction, the chief executive officer directly owned 474,763 shares in the company, valued at $102,074,045. This trade represents a 2.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Piyush B. Sevalia sold 1,039 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $220.00, for a total value of $228,580.00. Following the completion of the transaction, the insider owned 85,516 shares in the company, valued at approximately $18,813,520. This trade represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,539 shares of company stock valued at $3,751,940. 2.30% of the stock is owned by corporate insiders.

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.