Sandhill Capital Partners LLC Sells 162,060 Shares of SiTime Co. (NASDAQ:SITM)

Sandhill Capital Partners LLC trimmed its stake in SiTime Co. (NASDAQ:SITM) by 99.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,697 shares of the company’s stock after selling 162,060 shares during the quarter. Sandhill Capital Partners LLC’s holdings in SiTime were worth $207,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in SiTime by 2.9% in the third quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock worth $236,110,000 after acquiring an additional 58,629 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of SiTime by 4.7% in the third quarter. Principal Financial Group Inc. now owns 358,017 shares of the company’s stock worth $40,903,000 after purchasing an additional 16,092 shares during the last quarter. Amica Mutual Insurance Co. raised its stake in shares of SiTime by 478.9% in the third quarter. Amica Mutual Insurance Co. now owns 5,175 shares of the company’s stock worth $591,000 after purchasing an additional 4,281 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of SiTime by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,745 shares of the company’s stock worth $15,166,000 after purchasing an additional 7,049 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of SiTime by 243.2% in the third quarter. HighTower Advisors LLC now owns 10,924 shares of the company’s stock worth $1,248,000 after purchasing an additional 7,741 shares during the last quarter. 84.31% of the stock is owned by institutional investors.

SiTime Price Performance

SiTime stock traded up $6.85 during mid-day trading on Thursday, reaching $83.07. 346,214 shares of the stock traded hands, compared to its average volume of 206,725. The stock has a market capitalization of $1.90 billion, a PE ratio of -22.23 and a beta of 1.78. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $141.99. The business’s 50-day moving average is $89.78 and its 200-day moving average is $105.84.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The firm had revenue of $42.40 million for the quarter, compared to analysts’ expectations of $41.65 million. SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. Equities analysts anticipate that SiTime Co. will post -2.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SITM shares. Stifel Nicolaus boosted their price target on SiTime from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Barclays boosted their price target on SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

Insider Activity at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,288 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $90.57, for a total value of $116,654.16. Following the completion of the sale, the insider now owns 111,491 shares in the company, valued at $10,097,739.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 3,340 shares of company stock worth $330,780. 2.30% of the stock is owned by 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.