Bamco Inc. NY Sells 126,000 Shares of SiTime Co. (NASDAQ:SITM)

Bamco Inc. NY decreased its position in SiTime Co. (NASDAQ:SITM) by 48.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,516 shares of the company’s stock after selling 126,000 shares during the period. Bamco Inc. NY’s holdings in SiTime were worth $12,354,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co grew its holdings in shares of SiTime by 31.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company’s stock valued at $1,712,000 after buying an additional 4,410 shares during the last quarter. Saturna Capital Corp increased its holdings in shares of SiTime by 59.8% in the 1st quarter. Saturna Capital Corp now owns 3,208 shares of the company’s stock worth $299,000 after purchasing an additional 1,200 shares in the last quarter. American International Group Inc. raised its stake in shares of SiTime by 1.2% in the first quarter. American International Group Inc. now owns 9,566 shares of the company’s stock worth $892,000 after purchasing an additional 110 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of SiTime by 70.1% during the first quarter. Bessemer Group Inc. now owns 1,213 shares of the company’s stock valued at $113,000 after purchasing an additional 500 shares in the last quarter. Finally, Roubaix Capital LLC bought a new position in shares of SiTime during the first quarter valued at $5,288,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SiTime news, EVP Piyush B. Sevalia sold 1,768 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $115.42, for a total transaction of $204,062.56. Following the completion of the sale, the executive vice president now owns 97,136 shares of the company’s stock, valued at $11,211,437.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Vincent P. Pangrazio sold 1,962 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $150.00, for a total value of $294,300.00. Following the completion of the sale, the insider now directly owns 69,175 shares of the company’s stock, valued at $10,376,250. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Piyush B. Sevalia sold 1,768 shares of SiTime stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $115.42, for a total transaction of $204,062.56. Following the transaction, the executive vice president now owns 97,136 shares in the company, valued at approximately $11,211,437.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,562 shares of company stock valued at $6,817,590. 2.30% of the stock is owned by company insiders.

SiTime Stock Up 3.0 %

Shares of SiTime stock traded up $4.29 during trading hours on Friday, reaching $148.03. 176,137 shares of the stock traded hands, compared to its average volume of 244,010. The company has a 50 day moving average price of $132.13 and a 200 day moving average price of $111.25. SiTime Co. has a one year low of $72.39 and a one year high of $165.11. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -35.84 and a beta of 1.82.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, May 8th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.17). SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. The business had revenue of $33.02 million for the quarter, compared to analysts’ expectations of $32.02 million. Sell-side analysts anticipate that SiTime Co. will post -2.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SITM shares. Stifel Nicolaus boosted their target price on SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of SiTime in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.00.

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.