Calamos Advisors LLC Sells 1,019 Shares of SiTime Co. (NASDAQ:SITM)

Calamos Advisors LLC reduced its stake in SiTime Co. (NASDAQ:SITM) by 13.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,814 shares of the company’s stock after selling 1,019 shares during the period. Calamos Advisors LLC’s holdings in SiTime were worth $1,462,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SITM. LMR Partners LLP boosted its holdings in shares of SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after buying an additional 70,500 shares in the last quarter. Principal Financial Group Inc. boosted its stake in SiTime by 15.4% during the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after acquiring an additional 59,931 shares in the last quarter. FMR LLC grew its holdings in SiTime by 1.1% in the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after purchasing an additional 39,119 shares during the period. State Street Corp increased its stake in shares of SiTime by 3.1% during the third quarter. State Street Corp now owns 922,974 shares of the company’s stock valued at $158,299,000 after purchasing an additional 27,692 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of SiTime by 80.7% during the third quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after purchasing an additional 16,964 shares during the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

SiTime Price Performance

SITM stock opened at $214.61 on Wednesday. The stock has a market capitalization of $5.01 billion, a P/E ratio of -51.84 and a beta of 1.80. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18. The business has a fifty day moving average price of $228.10 and a 200-day moving average price of $185.71.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The business had revenue of $57.70 million during the quarter, compared to analyst estimates of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. SiTime’s revenue was up 62.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.81) EPS. As a group, analysts anticipate that SiTime Co. will post -2.98 earnings per share for the current year.

Wall Street Analyst Weigh In

SITM has been the topic of several recent research reports. Needham & Company LLC upped their price target on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Roth Mkm raised their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their price target on SiTime from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Barclays increased their price objective on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th.

Insider Transactions at SiTime

In other SiTime news, CEO Rajesh Vashist sold 12,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $259.25, for a total value of $3,111,000.00. Following the transaction, the chief executive officer now directly owns 24,781 shares of the company’s stock, valued at approximately $6,424,474.25. This trade represents a 32.63 % decrease in their ownership of the stock. The sale 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 dated Tuesday, November 19th. The shares were sold at an average price of $210.16, for a total transaction of $210,160.00. Following the sale, the insider now directly owns 108,574 shares of the company’s stock, valued at $22,817,911.84. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,931 shares of company stock worth $6,326,724 over the last three months. 2.30% of the stock is currently owned by company insiders.

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.