Sandhill Capital Partners LLC Has $207,000 Holdings in SiTime Co. (NASDAQ:SITM)

Sandhill Capital Partners LLC cut its holdings in SiTime Co. (NASDAQ:SITM) by 99.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,697 shares of the company’s stock after selling 162,060 shares during the period. Sandhill Capital Partners LLC’s holdings in SiTime were worth $207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amica Retiree Medical Trust grew its stake in shares of SiTime by 479.5% in the third quarter. Amica Retiree Medical Trust now owns 649 shares of the company’s stock valued at $74,000 after buying an additional 537 shares in the last quarter. Legato Capital Management LLC bought a new position in shares of SiTime in the fourth quarter valued at $237,000. Everence Capital Management Inc. bought a new position in shares of SiTime in the fourth quarter valued at $243,000. Keybank National Association OH bought a new position in shares of SiTime in the third quarter valued at $241,000. Finally, Park Avenue Securities LLC bought a new position in shares of SiTime in the third quarter valued at $268,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,026 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $92.33, for a total transaction of $94,730.58. Following the sale, the insider now directly owns 90,887 shares in the company, valued at $8,391,596.71. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 3,340 shares of company stock worth $330,780. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

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

SiTime Price Performance

SITM stock traded up $6.85 during midday trading on Thursday, reaching $83.07. The company had a trading volume of 346,214 shares, compared to its average volume of 206,725. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -22.23 and a beta of 1.78. The stock has a 50 day moving average price of $89.78 and a 200-day moving average price of $105.84. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $141.99.

SiTime (NASDAQ:SITM) last issued its earnings results on Tuesday, February 13th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The business had revenue of $42.40 million for the quarter, compared to analyst estimates of $41.65 million. SiTime had a negative return on equity of 10.21% and a negative net margin of 55.93%. As a group, research analysts anticipate that SiTime Co. will post -2.3 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.