Macquarie Group Ltd. Lowers Stock Position in SiTime Co. (NASDAQ:SITM)

Posted by on Mar 7th, 2023

Macquarie Group Ltd. cut its stake in shares of SiTime Co. (NASDAQ:SITM – Get Rating) by 64.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 125,614 shares of the company’s stock after selling 229,310 shares during the period. Macquarie Group Ltd. owned about 0.59% of SiTime worth $9,900,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its position in SiTime by 8.1% during the first quarter. Mackenzie Financial Corp now owns 811 shares of the company’s stock worth $201,000 after acquiring an additional 61 shares during the period. Yousif Capital Management LLC raised its position in SiTime by 1.2% during the first quarter. Yousif Capital Management LLC now owns 8,091 shares of the company’s stock worth $2,005,000 after acquiring an additional 98 shares during the period. Oregon Public Employees Retirement Fund raised its position in SiTime by 2.6% during the third quarter. Oregon Public Employees Retirement Fund now owns 4,651 shares of the company’s stock worth $366,000 after acquiring an additional 120 shares during the period. MetLife Investment Management LLC raised its position in SiTime by 0.7% during the third quarter. MetLife Investment Management LLC now owns 18,408 shares of the company’s stock worth $1,449,000 after acquiring an additional 125 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of SiTime by 17.6% in the first quarter. Hsbc Holdings PLC now owns 1,181 shares of the company’s stock valued at $301,000 after buying an additional 177 shares during the last quarter. 74.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. TheStreet upgraded shares of SiTime from a “d+” rating to a “c” rating in a research report on Monday, November 21st. Roth Capital increased their target price on shares of SiTime from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Needham & Company LLC increased their target price on shares of SiTime from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Credit Suisse Group began coverage on shares of SiTime in a research report on Tuesday, November 15th. They set an “outperform” rating and a $135.00 price objective for the company. Finally, Barclays increased their target price on shares of SiTime from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $140.00.

Insider Transactions at SiTime

In other news, EVP Piyush B. Sevalia sold 4,427 shares of the business’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $103.68, for a total transaction of $458,991.36. Following the completion of the sale, the executive vice president now owns 99,564 shares in the company, valued at approximately $10,322,795.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SiTime news, insider Vincent P. Pangrazio sold 701 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $105.04, for a total value of $73,633.04. Following the completion of the transaction, the insider now owns 85,397 shares in the company, valued at approximately $8,970,100.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Piyush B. Sevalia sold 4,427 shares of the company’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $103.68, for a total value of $458,991.36. Following the completion of the transaction, the executive vice president now owns 99,564 shares of the company’s stock, valued at approximately $10,322,795.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,622 shares of company stock worth $7,205,794. 1.16% of the stock is currently owned by company insiders.

SiTime Price Performance

NASDAQ SITM opened at $129.98 on Tuesday. SiTime Co. has a 12 month low of $73.10 and a 12 month high of $270.92. The company has a market cap of $2.82 billion, a P/E ratio of 126.20 and a beta of 1.86. The company has a 50-day moving average of $116.01 and a 200-day moving average of $102.68.

SiTime Company Profile

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SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

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Institutional Ownership by Quarter for SiTime (NASDAQ:SITM)

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