K.J. Harrison & Partners Inc Invests $764,000 in SiTime Corporation (NASDAQ:SITM)

K.J. Harrison & Partners Inc purchased a new position in SiTime Corporation (NASDAQ:SITM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,000 shares of the company's stock, valued at approximately $764,000.

Other institutional investors have also bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new stake in SiTime in the fourth quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in SiTime in the 1st quarter worth about $32,000. Aster Capital Management DIFC Ltd purchased a new stake in SiTime in the 4th quarter worth about $58,000. Smartleaf Asset Management LLC raised its stake in SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after acquiring an additional 206 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in SiTime during the fourth quarter valued at about $81,000. Hedge funds and other institutional investors own 84.31% of the company's stock.

Insider Transactions at SiTime

In other news, insider Piyush B. Sevalia sold 1,039 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $220.00, for a total transaction of $228,580.00. Following the completion of the transaction, the insider now owns 85,516 shares of the company's stock, valued at approximately $18,813,520. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Torsten Kreindl sold 950 shares of SiTime stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $207.00, for a total transaction of $196,650.00. Following the sale, the director now owns 12,561 shares of the company's stock, valued at approximately $2,600,127. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,818 shares of company stock valued at $13,171,258. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Barclays raised their price objective on shares of SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $224.00.

SiTime Stock Up 1.9%

Shares of SITM opened at $212.93 on Friday. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $268.18. The stock has a market cap of $5.05 billion, a PE ratio of -56.03 and a beta of 2.24. The business's 50-day moving average price is $193.44 and its 200-day moving average price is $190.38.

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

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.

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