Franklin Resources Inc. Has $206.74 Million Stake in SiTime Co. (NASDAQ:SITM)

Franklin Resources Inc. lowered its holdings in shares of SiTime Co. (NASDAQ:SITM) by 9.4% during the third quarter, HoldingsChannel reports. The firm owned 1,116,675 shares of the company’s stock after selling 115,289 shares during the quarter. Franklin Resources Inc.’s holdings in SiTime were worth $206,741,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC raised its holdings in SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after buying an additional 60 shares during the period. Nisa Investment Advisors LLC increased its position in shares of SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after acquiring an additional 88 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of SiTime by 0.6% during the third quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock worth $2,524,000 after acquiring an additional 94 shares during the period. Amalgamated Bank raised its holdings in shares of SiTime by 2.3% during the third quarter. Amalgamated Bank now owns 5,509 shares of the company’s stock worth $945,000 after acquiring an additional 122 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in SiTime by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the company’s stock valued at $1,107,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SITM shares. Roth Mkm lifted their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their target price on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Barclays upped their price target on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC lifted their price objective on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Insider Activity

In related news, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the completion of the transaction, the chief executive officer now owns 424,417 shares in the company, valued at approximately $72,180,599.19. This trade represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $249.42, for a total value of $249,420.00. Following the completion of the sale, the insider now owns 101,683 shares in the company, valued at $25,361,773.86. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,513 shares of company stock valued at $6,708,428 in the last quarter. Company insiders own 2.30% of the company’s stock.

SiTime Stock Performance

SITM opened at $252.61 on Friday. The business’s 50-day simple moving average is $201.30 and its 200 day simple moving average is $160.67. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18. The firm has a market capitalization of $5.90 billion, a PE ratio of -61.02 and a beta of 1.86.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The company had revenue of $57.70 million for the quarter, compared to analysts’ expectations of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business’s revenue was up 62.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.81) EPS. On average, research analysts forecast that SiTime Co. will post -2.98 earnings per share for the current year.

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.