Apis Capital Advisors LLC Acquires Shares of 15,800 SiTime Corporation $SITM

Key Points

• Apis Capital Advisors opened a new position in SiTime, buying 15,800 shares worth about $5.58 million. The stake represents about 1.0% of its portfolio and 0.06% of SiTime.
• Several analysts turned more positive on the stock, with ratings including buy and overweight and target prices as high as $850. MarketBeat says the stock currently has a Moderate Buy consensus and an average target of $661.88.
• SiTime recently beat quarterly expectations, reporting $1.44 EPS on revenue of $113.57 million, with revenue up 88.3% year over year. Despite the strong results, the stock was down 1.1% and insider selling remained notable in the latest quarter.

Apis Capital Advisors LLC purchased a new position in SiTime Corporation (NASDAQ:SITM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,800 shares of the company's stock, valued at approximately $5,580,000. SiTime accounts for 1.0% of Apis Capital Advisors LLC's portfolio, making the stock its 28th biggest position. Apis Capital Advisors LLC owned 0.06% of SiTime as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Rakuten Securities Inc. grew its position in SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company's stock valued at $26,000 after buying an additional 49 shares during the period. Optiver Holding B.V. grew its position in SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company's stock valued at $27,000 after buying an additional 32 shares during the period. Larson Financial Group LLC grew its position in SiTime by 3,200.0% during the third quarter. Larson Financial Group LLC now owns 99 shares of the company's stock valued at $30,000 after buying an additional 96 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in SiTime during the fourth quarter valued at approximately $33,000. Finally, Danske Bank A S purchased a new position in SiTime during the fourth quarter valued at approximately $35,000. 84.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SiTime

In related news, Director Torsten Kreindl sold 710 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $720.00, for a total value of $511,200.00. Following the transaction, the director owned 13,141 shares in the company, valued at approximately $9,461,520. This represents a 5.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Fariborz Assaderaghi sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $702.90, for a total transaction of $702,900.00. Following the completion of the transaction, the insider owned 78,936 shares in the company, valued at approximately $55,484,114.40. This trade represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 74,624 shares of company stock valued at $52,399,813. 1.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on SITM shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SiTime in a report on Tuesday, April 21st. The Goldman Sachs Group reissued a "buy" rating and issued a $800.00 target price on shares of SiTime in a report on Thursday, May 7th. Stifel Nicolaus boosted their target price on shares of SiTime from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Wall Street Zen raised shares of SiTime from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, Barclays raised shares of SiTime from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $400.00 to $850.00 in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $661.88.

SiTime Stock Down 1.1%

SITM stock opened at $677.21 on Thursday. SiTime Corporation has a twelve month low of $186.49 and a twelve month high of $901.81. The stock has a market capitalization of $17.88 billion, a price-to-earnings ratio of -670.50 and a beta of 2.94. The firm's fifty day simple moving average is $638.97 and its two-hundred day simple moving average is $461.49.

SiTime (NASDAQ:SITM - Get Free Report) last posted 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 business had revenue of $113.57 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 earnings per share. As a group, equities research analysts expect that SiTime Corporation will post 3.23 EPS for the current year.

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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