Lisanti Capital Growth LLC Sells 17,425 Shares of SiTime Corporation (NASDAQ:SITM)

Lisanti Capital Growth LLC cut its holdings in SiTime Corporation (NASDAQ:SITM - Free Report) by 59.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,820 shares of the company's stock after selling 17,425 shares during the quarter. Lisanti Capital Growth LLC's holdings in SiTime were worth $1,807,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SITM. GAMMA Investing LLC lifted its holdings in shares of SiTime by 27,559.1% during the first quarter. GAMMA Investing LLC now owns 261,102 shares of the company's stock valued at $39,915,000 after purchasing an additional 260,158 shares in the last quarter. Invesco Ltd. grew its stake in shares of SiTime by 11.0% in the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company's stock worth $210,921,000 after acquiring an additional 97,062 shares during the period. Hood River Capital Management LLC grew its stake in shares of SiTime by 27.0% in the fourth quarter. Hood River Capital Management LLC now owns 421,960 shares of the company's stock worth $90,523,000 after acquiring an additional 89,632 shares during the period. Emerald Advisers LLC purchased a new position in shares of SiTime during the fourth quarter valued at approximately $18,673,000. Finally, Capital World Investors bought a new position in SiTime during the fourth quarter valued at approximately $17,654,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at SiTime

In other news, insider Fariborz Assaderaghi sold 1,000 shares of SiTime stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $201.36, for a total transaction of $201,360.00. Following the sale, the insider owned 101,319 shares in the company, valued at $20,401,593.84. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lionel Bonnot sold 1,991 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $201.36, for a total transaction of $400,907.76. Following the transaction, the insider owned 82,579 shares of the company's stock, valued at approximately $16,628,107.44. This represents a 2.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,818 shares of company stock worth $13,171,258 in the last three months. Corporate insiders own 2.30% of the company's stock.

SiTime Stock Up 1.6%

NASDAQ:SITM traded up $3.21 during mid-day trading on Wednesday, hitting $209.36. 365,999 shares of the company traded hands, compared to its average volume of 267,344. The stock's fifty day moving average price is $196.69 and its 200-day moving average price is $189.75. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of -55.09 and a beta of 2.21. SiTime Corporation has a one year low of $105.40 and a one year high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.15. The business had revenue of $60.31 million for 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 for the quarter was up 82.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. Equities analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays lifted their target price on shares of SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 11th. Stifel Nicolaus increased their price objective 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. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, SiTime has a consensus rating of "Moderate Buy" and a consensus target price of $224.00.

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.