4,137 Shares in SiTime Corporation $SITM Bought by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. opened a new position in SiTime, buying 4,137 shares valued at about $1.46 million in the fourth quarter.
• SiTime recently reported strong quarterly results, with earnings of $1.44 per share and revenue of $113.57 million, both beating expectations and revenue jumping 88.3% year over year.
• Analyst sentiment is broadly positive: several firms raised targets or upgraded the stock, and SiTime now carries a Moderate Buy consensus rating with an average price target of $661.88.

Fox Run Management L.L.C. purchased a new position in SiTime Corporation (NASDAQ:SITM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,137 shares of the company's stock, valued at approximately $1,461,000.

Several other large investors also recently bought and sold shares of the business. Los Angeles Capital Management LLC increased its position in SiTime by 0.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company's stock worth $3,187,000 after purchasing an additional 25 shares during the last quarter. Optiver Holding B.V. increased its position in SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company's stock worth $27,000 after purchasing an additional 32 shares during the last quarter. Atlas Brown Inc. increased its position in SiTime by 1.6% in the fourth quarter. Atlas Brown Inc. now owns 2,292 shares of the company's stock worth $810,000 after purchasing an additional 37 shares during the last quarter. CWM LLC increased its position in SiTime by 4.2% in the fourth quarter. CWM LLC now owns 951 shares of the company's stock worth $336,000 after purchasing an additional 38 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in SiTime by 27.4% in the third quarter. Bessemer Group Inc. now owns 186 shares of the company's stock worth $55,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 84.31% of the company's stock.

SiTime Trading Up 6.2%

Shares of SITM opened at $664.28 on Tuesday. SiTime Corporation has a twelve month low of $186.49 and a twelve month high of $901.81. The company has a market cap of $17.54 billion, a P/E ratio of -657.70 and a beta of 2.94. The company's fifty day simple moving average is $589.30 and its 200-day simple moving average is $440.76.

SiTime (NASDAQ:SITM - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.30. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The business had revenue of $113.57 million for the quarter, compared to the consensus estimate of $103.51 million. During the same quarter in the prior year, the firm posted $0.26 earnings per share. The business's revenue for the quarter was up 88.3% on a year-over-year basis. Analysts predict that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SITM shares. Weiss Ratings restated a "sell (d-)" rating on shares of SiTime in a research report on Tuesday, April 21st. Barclays upgraded shares of SiTime from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $400.00 to $850.00 in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of SiTime from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. UBS Group increased their target price on shares of SiTime from $675.00 to $775.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $800.00 target price on shares of SiTime in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, SiTime presently has a consensus rating of "Moderate Buy" and an average price target of $661.88.

Insiders Place Their Bets

In other news, insider Fariborz Assaderaghi sold 1,000 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $702.90, for a total value of $702,900.00. Following the transaction, the insider directly owned 78,936 shares in the company, valued at approximately $55,484,114.40. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Torsten Kreindl sold 710 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $720.00, for a total transaction of $511,200.00. Following the completion of the transaction, the director owned 13,141 shares in the company, valued at approximately $9,461,520. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 52,624 shares of company stock valued at $35,942,053. 1.40% of the stock is currently owned by company insiders.

About SiTime

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime's products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company's timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.

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