Rice Hall James & Associates LLC Decreases Stock Holdings in SiTime Co. (NASDAQ:SITM)

Rice Hall James & Associates LLC lowered its stake in shares of SiTime Co. (NASDAQ:SITM) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,294 shares of the company’s stock after selling 1,942 shares during the period. Rice Hall James & Associates LLC owned 0.22% of SiTime worth $6,380,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in shares of SiTime in the 2nd quarter valued at approximately $647,000. Arizona State Retirement System lifted its holdings in SiTime by 10.7% in the second quarter. Arizona State Retirement System now owns 5,122 shares of the company’s stock valued at $637,000 after acquiring an additional 493 shares during the last quarter. Rhumbline Advisers grew its position in SiTime by 1.5% in the second quarter. Rhumbline Advisers now owns 51,019 shares of the company’s stock worth $6,346,000 after acquiring an additional 745 shares during the period. Lisanti Capital Growth LLC acquired a new stake in SiTime during the second quarter worth $4,009,000. Finally, nVerses Capital LLC purchased a new stake in SiTime in the second quarter valued at $124,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SITM shares. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of SiTime in a report on Tuesday, June 25th. Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price for the company. in a research note on Tuesday, August 27th. Finally, Stifel Nicolaus lifted their price target on shares of SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 18th.

SiTime Trading Down 0.6 %

SITM opened at $132.71 on Wednesday. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -32.13 and a beta of 1.82. The stock’s 50-day moving average price is $138.92 and its 200 day moving average price is $115.91. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $165.11.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The firm had revenue of $43.90 million during the quarter, compared to the consensus estimate of $41.01 million. During the same period in the prior year, the company posted ($1.17) earnings per share. The firm’s quarterly revenue was up 58.5% compared to the same quarter last year. On average, research analysts forecast that SiTime Co. will post -3.03 earnings per share for the current year.

Insider Activity at SiTime

In other SiTime news, insider Vincent P. Pangrazio sold 1,962 shares of the company’s 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 transaction, the insider now owns 69,175 shares in the company, valued at $10,376,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SiTime news, insider Vincent P. Pangrazio sold 1,962 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $150.00, for a total transaction of $294,300.00. Following the transaction, the insider now directly owns 69,175 shares of the company’s stock, valued at approximately $10,376,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total transaction of $150,591.15. Following the sale, the insider now owns 112,584 shares of the company’s stock, valued at approximately $15,654,805.20. The disclosure for this sale can be found here. Insiders have sold 49,178 shares of company stock valued at $6,501,368 in the last ninety days. Insiders own 2.30% of the company’s stock.

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.