JPMorgan Chase & Co. Has $11.31 Million Stock Position in SiTime Corporation $SITM

Key Points

• JPMorgan Chase trimmed its SiTime stake by 11.2% in Q3 to 37,528 shares, leaving a position worth about $11.31 million per its most recent 13F filing.
• Insiders sold heavily this quarter — Samsheer Ahamad sold 9,100 shares at an average $441.47 and insiders disposed of 24,512 shares totaling roughly $10.32 million; corporate insiders now own 2.10% of the company.
• Analysts remain largely bullish after SiTime beat quarterly EPS estimates ($1.53 vs. $1.20) and reported 66.3% revenue growth, with seven Buy ratings and a consensus price target of $409.38 despite negative net margin and ROE.

JPMorgan Chase & Co. lowered its stake in SiTime Corporation (NASDAQ:SITM - Free Report) by 11.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,528 shares of the company's stock after selling 4,712 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.14% of SiTime worth $11,308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in shares of SiTime by 12.5% in the first quarter. Royal Bank of Canada now owns 4,411 shares of the company's stock worth $675,000 after buying an additional 491 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of SiTime by 33.6% during the first 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. AQR Capital Management LLC lifted its position in shares of SiTime by 310.8% in the 1st quarter. AQR Capital Management LLC now owns 10,754 shares of the company's stock valued at $1,557,000 after acquiring an additional 8,136 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of SiTime by 21.6% in the 1st quarter. Intech Investment Management LLC now owns 8,322 shares of the company's stock valued at $1,272,000 after acquiring an additional 1,477 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in SiTime in the 2nd quarter worth approximately $196,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SiTime

In other SiTime news, insider Samsheer Ahamad sold 9,100 shares of the business's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $441.47, for a total value of $4,017,377.00. Following the transaction, the insider owned 52,938 shares in the company, valued at $23,370,538.86. The trade was a 14.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Raman Chitkara sold 501 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $425.03, for a total value of $212,940.03. Following the completion of the transaction, the director directly owned 21,508 shares in the company, valued at approximately $9,141,545.24. The trade was a 2.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,512 shares of company stock valued at $10,319,832 in the last quarter. Corporate insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SITM. Stifel Nicolaus set a $450.00 price objective on shares of SiTime in a research report on Thursday, February 5th. Wall Street Zen raised SiTime from a "hold" rating to a "buy" rating in a research report on Sunday, March 22nd. Raymond James Financial reiterated an "outperform" rating on shares of SiTime in a report on Tuesday, December 2nd. Needham & Company LLC upped their price target on SiTime from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Finally, Barclays set a $400.00 price objective on SiTime in a research note on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $409.38.

SiTime Stock Performance

SiTime stock opened at $327.20 on Friday. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $446.95. The firm has a market cap of $8.61 billion, a PE ratio of -179.78 and a beta of 2.53. The firm's 50 day moving average price is $374.88 and its two-hundred day moving average price is $335.35.

SiTime (NASDAQ:SITM - Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.33. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The company had revenue of $113.29 million during the quarter, compared to analyst estimates of $101.91 million. During the same quarter last year, the business posted $0.48 EPS. The company's revenue for the quarter was up 66.3% on a year-over-year basis. Equities analysts anticipate that SiTime Corporation will post -2.44 EPS for the current fiscal 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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