Artemis Wealth Advisors LLC Takes Position in SiTime Corporation $SITM

Key Points

• Artemis Wealth Advisors acquired 11,041 SiTime shares worth approximately $337,000 in the second quarter, while institutional investors collectively own 84.31% of the company.
• Analyst sentiment is largely positive: SiTime has a “Moderate Buy” consensus rating and an average price target of $688.75, with several firms recently raising their targets to as high as $900.
• SiTime reported quarterly EPS of $2.34 and revenue of $157.43 million, exceeding estimates and marking 126.5% year-over-year revenue growth. However, insiders sold 69,759 shares worth about $50 million over the past 90 days, while the stock opened at $680.06 after a reported 9.3% decline.

Artemis Wealth Advisors LLC acquired a new stake in shares of SiTime Corporation (NASDAQ:SITM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,041 shares of the company's stock, valued at approximately $337,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Rakuten Securities Inc. boosted its stake in SiTime by 188.5% in the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company's stock valued at $26,000 after acquiring an additional 49 shares during the period. Parallel Advisors LLC grew its holdings in SiTime by 26.2% in 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 increased its holdings 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 valued at $30,000 after purchasing an additional 96 shares during the period. USA Financial Formulas acquired a new position in SiTime during the 1st quarter valued at about $33,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of SiTime during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 84.31% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SITM. 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. UBS Group boosted their target price on shares of SiTime from $775.00 to $840.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Needham & Company LLC increased their target price on shares of SiTime from $850.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings restated a "sell (d-)" rating on shares of SiTime in a report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of SiTime from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. One equities research 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $688.75.

Insider Transactions at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,709 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $731.49, for a total value of $1,250,116.41. Following the transaction, the insider directly owned 81,436 shares of the company's stock, valued at $59,569,619.64. This represents a 2.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Heckart sold 1,290 shares of the stock in a transaction that occurred 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 completion of the transaction, the director owned 790 shares in the company, valued at $553,000. This represents a 62.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 69,759 shares of company stock valued at $50,046,035. Corporate insiders own 1.40% of the company's stock.

SiTime Trading Down 9.3%

NASDAQ:SITM opened at $680.06 on Wednesday. The stock has a market cap of $20.45 billion, a PE ratio of 1,387.88 and a beta of 2.94. SiTime Corporation has a fifty-two week low of $204.60 and a fifty-two week high of $901.81. The company has a debt-to-equity ratio of 1.29, a current ratio of 19.44 and a quick ratio of 18.50. The stock's 50-day moving average is $639.16 and its two-hundred day moving average is $546.60.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.34 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.39. SiTime had a net margin of 3.01% and a return on equity of 4.99%. The firm had revenue of $157.43 million for the quarter, compared to the consensus estimate of $146.46 million. During the same period in the previous year, the firm posted $0.47 earnings per share. The firm's revenue was up 126.5% on a year-over-year basis. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. As a group, equities research analysts forecast that SiTime Corporation will post 6.33 earnings per share for the current fiscal year.

SiTime Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source