Ardsley Advisory Partners LP Invests $3.84 Million in SiTime Corporation $SITM

Key Points

• Ardsley Advisory Partners LP has acquired 25,100 shares of SiTime Corporation worth approximately $3.84 million, increasing its stake to 0.11% as of the latest quarter.
• Insider selling occurred with EVP Elizabeth A. Howe offloading 1,500 shares at $208.00 each, reflecting a 2.06% decrease in her holdings.
• SiTime reported a quarterly earnings of $0.47 per share, exceeding expectations, with revenue up 58.3% year-over-year at $69.49 million.

Ardsley Advisory Partners LP purchased a new stake in SiTime Corporation (NASDAQ:SITM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 25,100 shares of the company's stock, valued at approximately $3,837,000. Ardsley Advisory Partners LP owned 0.11% of SiTime as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new position in SiTime in the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new position in SiTime in the 1st quarter valued at about $32,000. Advisors Asset Management Inc. raised its holdings in SiTime by 33.6% in the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company's stock valued at $54,000 after acquiring an additional 88 shares during the period. CWM LLC raised its holdings in SiTime by 69.0% in the 1st quarter. CWM LLC now owns 453 shares of the company's stock valued at $69,000 after acquiring an additional 185 shares during the period. Finally, Lazard Asset Management LLC bought a new position in SiTime in the 4th quarter valued at about $81,000. 84.31% of the stock is owned by institutional investors.

Insider Activity at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $234.00, for a total value of $702,000.00. Following the sale, the insider owned 93,433 shares in the company, valued at $21,863,322. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Rajesh Vashist sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $232.00, for a total transaction of $464,000.00. Following the completion of the sale, the chief executive officer owned 463,208 shares in the company, valued at $107,464,256. This represents a 0.43% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,539 shares of company stock worth $3,051,900. Corporate insiders own 2.30% of the company's stock.

SiTime Price Performance

NASDAQ:SITM traded up $5.10 during mid-day trading on Monday, reaching $239.87. The stock had a trading volume of 109,730 shares, compared to its average volume of 328,368. SiTime Corporation has a 12 month low of $105.40 and a 12 month high of $268.18. The stock has a market capitalization of $6.24 billion, a PE ratio of -68.80 and a beta of 2.18. The stock has a 50-day simple moving average of $213.72 and a two-hundred day simple moving average of $189.03.

SiTime (NASDAQ:SITM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.18. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The firm had revenue of $69.49 million for the quarter, compared to analyst estimates of $64.66 million. During the same quarter last year, the business posted $0.12 earnings per share. The company's quarterly revenue was up 58.3% on a year-over-year basis. Equities analysts expect that SiTime Corporation will post -2.44 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on SITM shares. UBS Group started coverage on shares of SiTime in a report on Thursday, August 14th. They set a "buy" rating and a $260.00 target price on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $270.00 target price (up from $250.00) on shares of SiTime in a report on Friday, August 29th. Stifel Nicolaus raised their target price on shares of SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Barclays raised their target price on shares of SiTime from $180.00 to $220.00 and gave the stock an "underweight" rating in a report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, SiTime presently has a consensus rating of "Moderate Buy" and an average price target of $243.33.

SiTime Company Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.