5,449 Shares in SiTime Corporation $SITM Acquired by Blue Jean Financial LLC

Key Points

• Blue Jean Financial LLC opened a new position in SiTime during the fourth quarter, buying 5,449 shares valued at about $1.925 million. The stake represents roughly 1.6% of the fund’s holdings.
• Wall Street sentiment on SiTime is broadly positive, with several analysts raising price targets and ratings. The stock currently carries a Moderate Buy consensus and an average target price of $661.88.
• SiTime reported strong quarterly results, beating earnings and revenue estimates with 88.3% year-over-year revenue growth. However, executives have been selling shares, including CEO Rajesh Vashist’s recent sale of 10,000 shares under a Rule 10b5-1 plan.

Blue Jean Financial LLC acquired a new position in SiTime Corporation (NASDAQ:SITM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,449 shares of the company's stock, valued at approximately $1,925,000. SiTime makes up about 1.6% of Blue Jean Financial LLC's holdings, making the stock its 19th largest holding.

A number of other large investors also recently bought and sold shares of the business. Rakuten Securities Inc. increased its position in shares of SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company's stock worth $26,000 after purchasing an additional 49 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company's stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Optiver Holding B.V. increased its position in shares of SiTime by 56.1% during 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 in the last quarter. Larson Financial Group LLC increased its position in shares of SiTime by 3,200.0% during the third quarter. Larson Financial Group LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 96 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of SiTime during the fourth quarter worth $33,000. Institutional investors own 84.31% of the company's stock.

Analyst Ratings Changes

SITM has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their price target on SiTime from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Needham & Company LLC upped their price target on SiTime from $450.00 to $850.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Barclays raised SiTime from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $400.00 to $850.00 in a research report on Thursday, May 7th. Wall Street Zen raised SiTime from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SiTime in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, SiTime has a consensus rating of "Moderate Buy" and an average target price of $661.88.

SiTime Price Performance

Shares of SITM opened at $729.89 on Friday. The firm has a market capitalization of $19.27 billion, a PE ratio of -722.66 and a beta of 2.94. SiTime Corporation has a 1-year low of $186.49 and a 1-year high of $901.81. The company's fifty day moving average price is $618.04 and its 200-day moving average price is $451.56.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.30. The firm had revenue of $113.57 million for the quarter, compared to analyst estimates of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The business's quarterly revenue was up 88.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. As a group, research analysts anticipate that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Insider Activity

In other news, CEO Rajesh Vashist sold 10,000 shares of the business's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $701.13, for a total transaction of $7,011,300.00. Following the sale, the chief executive officer directly owned 14,781 shares of the company's stock, valued at $10,363,402.53. The trade was a 40.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Akira Takata sold 1,500 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the sale, the director directly owned 12,234 shares in the company, valued at $10,531,761.24. This trade represents a 10.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 52,624 shares of company stock valued at $35,942,053. 1.40% of the stock is owned by corporate insiders.

SiTime Profile

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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