7,033 Shares in SiTime Corporation $SITM Bought by Bradley Foster & Sargent Inc. CT

Key Points

• Bradley Foster & Sargent bought 7,033 SiTime shares worth approximately $2.43 million in the first quarter. Institutional investors collectively own 84.31% of the company.
• SiTime reported strong quarterly results, with revenue up 88.3% year over year to $113.57 million and adjusted earnings of $1.44 per share, beating analyst expectations.
• Analyst sentiment remains positive, with eight Buy ratings and a consensus “Moderate Buy” rating, though insiders sold roughly $50.2 million of shares over the past 90 days.

Bradley Foster & Sargent Inc. CT bought a new stake in SiTime Corporation (NASDAQ:SITM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,033 shares of the company's stock, valued at approximately $2,429,000.

A number of other institutional investors have also bought and sold shares of SITM. Rakuten Securities Inc. raised its position in shares of SiTime by 188.5% in the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company's stock worth $26,000 after acquiring an additional 49 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of SiTime by 26.2% during the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company's stock worth $27,000 after buying an additional 16 shares in the last quarter. Larson Financial Group LLC grew its position in shares of SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company's stock worth $30,000 after buying an additional 96 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of SiTime during the 4th quarter worth approximately $33,000. Finally, Danske Bank A S bought a new stake in shares of SiTime in the 4th quarter valued at $35,000. Institutional investors own 84.31% of the company's stock.

Insiders Place Their Bets

In related news, CEO Rajesh Vashist sold 30,000 shares of SiTime stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $701.13, for a total transaction of $21,033,900.00. Following the transaction, the chief executive officer owned 402,898 shares of the company's stock, valued at $282,483,874.74. The trade was a 6.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Heckart sold 1,290 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $700.00, for a total value of $903,000.00. Following the sale, the director owned 790 shares of the company's stock, valued at $553,000. This trade represents a 62.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 69,709 shares of company stock worth $50,230,546 in the last 90 days. Company insiders own 1.40% of the company's stock.

SiTime Stock Performance

Shares of SITM stock opened at $554.46 on Monday. The firm has a market capitalization of $14.64 billion, a PE ratio of -548.97 and a beta of 2.91. The firm has a fifty day simple moving average of $667.85 and a two-hundred day simple moving average of $515.04. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.30. The firm had revenue of $113.57 million for the quarter, compared to the consensus estimate 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 revenue was up 88.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, equities analysts predict that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on SITM shares. Barclays upgraded shares of SiTime from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $400.00 to $850.00 in a research report on Thursday, May 7th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $800.00 price target on shares of SiTime in a research note on Thursday, May 7th. UBS Group upped their price objective on shares of SiTime from $675.00 to $775.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Zacks Research cut shares of SiTime from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Wall Street Zen raised SiTime from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $661.88.

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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