GSA Capital Partners LLP Invests $1.23 Million in SiTime Corporation (NASDAQ:SITM)

GSA Capital Partners LLP purchased a new stake in shares of SiTime Corporation (NASDAQ:SITM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,011 shares of the company's stock, valued at approximately $1,225,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its stake in SiTime by 4.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company's stock worth $417,000 after buying an additional 83 shares during the period. Xponance Inc. raised its stake in SiTime by 7.2% in the 1st quarter. Xponance Inc. now owns 1,419 shares of the company's stock valued at $217,000 after acquiring an additional 95 shares during the period. Vident Advisory LLC boosted its holdings in shares of SiTime by 5.0% during the fourth quarter. Vident Advisory LLC now owns 2,199 shares of the company's stock worth $472,000 after acquiring an additional 104 shares during the period. Ellevest Inc. raised its position in shares of SiTime by 2.2% in the fourth quarter. Ellevest Inc. now owns 5,254 shares of the company's stock valued at $1,127,000 after buying an additional 113 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of SiTime in the fourth quarter valued at approximately $25,000. 84.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays boosted their price objective on shares of SiTime from $135.00 to $180.00 and gave the company an "underweight" rating in a research report on Wednesday, June 11th. Stifel Nicolaus increased their target price on SiTime from $210.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, July 18th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, SiTime presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.00.

SiTime Price Performance

Shares of NASDAQ SITM traded down $9.76 during trading on Friday, hitting $193.09. The stock had a trading volume of 403,869 shares, compared to its average volume of 247,587. SiTime Corporation has a 12 month low of $105.40 and a 12 month high of $268.18. The firm has a fifty day moving average of $207.89 and a two-hundred day moving average of $186.23. The company has a market capitalization of $4.58 billion, a PE ratio of -50.81 and a beta of 2.20.

SiTime (NASDAQ:SITM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.15. The firm had revenue of $60.31 million during the quarter, compared to the consensus estimate of $54.01 million. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. The company's revenue was up 82.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. On average, equities analysts expect that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SiTime news, insider Vincent P. Pangrazio sold 5,026 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $204.55, for a total value of $1,028,068.30. Following the completion of the sale, the insider directly owned 64,842 shares of the company's stock, valued at $13,263,431.10. The trade was a 7.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tom Dang-Hsing Yiu sold 2,115 shares of SiTime stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $200.00, for a total transaction of $423,000.00. Following the sale, the director directly owned 18,500 shares in the company, valued at $3,700,000. The trade was a 10.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,551 shares of company stock worth $13,413,996 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

About SiTime

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.