KADENSA CAPITAL Ltd Purchases Shares of 9,354 SiTime Corporation $SITM

Key Points

• KADENSA CAPITAL Ltd invested approximately $1.43 million in SiTime Corporation by acquiring 9,354 shares during the first quarter.
• Insider trades reveal that Piyush B. Sevalia and Elizabeth A. Howe sold significant portions of their stakes, with Sevalia selling 2,000 shares for about $485,320.
• Research analysts have increased SiTime's price targets following positive earnings results, with estimates ranging from $220.00 to $270.00, indicating strong market expectations.

KADENSA CAPITAL Ltd purchased a new position in shares of SiTime Corporation (NASDAQ:SITM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,354 shares of the company's stock, valued at approximately $1,430,000.

Several other hedge funds also recently added to or reduced their stakes in SITM. Fourth Dimension Wealth LLC purchased a new position in shares of SiTime during the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in SiTime in the 1st quarter valued at about $32,000. Advisors Asset Management Inc. grew 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 buying an additional 88 shares during the period. CWM LLC grew its holdings in shares of SiTime by 69.0% during the 1st quarter. CWM LLC now owns 453 shares of the company's stock worth $69,000 after purchasing an additional 185 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in SiTime during the 4th quarter worth approximately $81,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at SiTime

In other news, CEO Rajesh Vashist sold 2,000 shares of the stock in a transaction dated 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 directly owned 463,208 shares in the company, valued at approximately $107,464,256. This represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth A. Howe sold 1,500 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $208.00, for a total transaction of $312,000.00. Following the sale, the executive vice president owned 71,474 shares of the company's stock, valued at approximately $14,866,592. This represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,539 shares of company stock valued at $4,200,290. 2.30% of the stock is currently owned by insiders.

SiTime Stock Up 1.1%

SiTime stock traded up $2.64 during trading on Tuesday, hitting $247.21. The stock had a trading volume of 352,097 shares, compared to its average volume of 329,802. SiTime Corporation has a 1 year low of $105.40 and a 1 year high of $268.18. The stock's 50 day moving average is $214.35 and its two-hundred day moving average is $189.48. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of -71.04 and a beta of 2.18.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $64.66 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The business's quarterly revenue was up 58.3% on a year-over-year basis. As a group, equities research analysts anticipate that SiTime Corporation will post -2.44 EPS for the current fiscal year.

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.