SiTime Co. (NASDAQ:SITM) Shares Bought by Castleark Management LLC

Castleark Management LLC increased its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,442 shares of the company's stock after purchasing an additional 7,680 shares during the period. Castleark Management LLC owned 0.16% of SiTime worth $8,247,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after buying an additional 67 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in SiTime during the fourth quarter worth about $58,000. Smartleaf Asset Management LLC raised its holdings in shares of SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after purchasing an additional 206 shares during the period. Lazard Asset Management LLC purchased a new position in shares of SiTime in the 4th quarter worth about $81,000. Finally, AlphaQuest LLC lifted its stake in shares of SiTime by 8,460.0% in the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock valued at $92,000 after purchasing an additional 423 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Rajesh Vashist sold 20,000 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $210.65, for a total value of $4,213,000.00. Following the transaction, the chief executive officer now owns 490,320 shares in the company, valued at approximately $103,285,908. The trade was a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Samsheer Ahamad sold 7,728 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $207.41, for a total value of $1,602,864.48. Following the sale, the insider now owns 78,095 shares of the company's stock, valued at approximately $16,197,683.95. This trade represents a 9.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,495 shares of company stock worth $9,500,531 in the last quarter. 2.10% of the stock is owned by corporate insiders.

SiTime Price Performance

SiTime stock traded down $6.44 during midday trading on Monday, hitting $197.59. 252,206 shares of the company were exchanged, compared to its average volume of 245,915. The company has a market cap of $4.69 billion, a PE ratio of -48.79 and a beta of 2.24. SiTime Co. has a fifty-two week low of $105.40 and a fifty-two week high of $268.18. The company's fifty day moving average price is $161.61 and its 200-day moving average price is $191.07.

SiTime (NASDAQ:SITM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.15. The business had revenue of $60.31 million for the quarter, compared to analysts' expectations of $54.01 million. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The business's revenue for the quarter was up 82.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) earnings per share. On average, analysts expect that SiTime Co. will post -2.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Barclays increased their target price on shares of SiTime from $110.00 to $135.00 and gave the stock an "underweight" rating in a research report on Thursday, May 8th. Raymond James reiterated an "outperform" rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC raised their target price on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus lifted their target price on shares of SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $215.00.

SiTime 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.