Wellington Management Group LLP Sells 22,709 Shares of SiTime Co. (NASDAQ:SITM)

Wellington Management Group LLP cut its stake in SiTime Co. (NASDAQ:SITM) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,439 shares of the company’s stock after selling 22,709 shares during the period. Wellington Management Group LLP owned 0.67% of SiTime worth $18,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Pineridge Advisors LLC bought a new position in SiTime in the 4th quarter worth approximately $25,000. Comerica Bank raised its position in shares of SiTime by 5.2% during the fourth quarter. Comerica Bank now owns 8,537 shares of the company’s stock worth $1,042,000 after acquiring an additional 419 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of SiTime by 2.9% during the fourth quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock valued at $108,908,000 after acquiring an additional 25,324 shares during the period. Ghisallo Capital Management LLC bought a new position in SiTime in the fourth quarter valued at about $2,495,000. Finally, S Squared Technology LLC increased its position in SiTime by 6.7% in the fourth quarter. S Squared Technology LLC now owns 80,046 shares of the company’s stock worth $9,772,000 after purchasing an additional 5,000 shares during the period. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Stock Up 5.9 %

Shares of SiTime stock opened at $122.70 on Wednesday. The business has a fifty day simple moving average of $111.38 and a 200 day simple moving average of $107.74. The stock has a market cap of $2.81 billion, a PE ratio of -29.71 and a beta of 1.83. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $141.99.

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

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 target price on shares of SiTime in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Insider Activity at SiTime

In other news, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $125.44, for a total transaction of $2,508,800.00. Following the transaction, the chief executive officer now directly owns 455,367 shares of the company’s stock, valued at $57,121,236.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Rajesh Vashist sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $125.44, for a total transaction of $2,508,800.00. Following the sale, the chief executive officer now owns 455,367 shares of the company’s stock, valued at approximately $57,121,236.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Piyush B. Sevalia sold 827 shares of SiTime stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $130.00, for a total value of $107,510.00. Following the transaction, the executive vice president now owns 89,624 shares in the company, valued at $11,651,120. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,068 shares of company stock worth $4,713,988. 2.30% of the stock is currently owned by company 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.